The Treasury auction is Thursday, when 5-year Notes will be sold. This will help gauge investor interest in bonds and could lead to a bond rally or selling. Results of these sales are posted at 1:00 PM ET, so any impact on trading and mortgage rates will come during afternoon hours. If investor demand was strong, we should see bond prices rise and mortgage rates move lower. However, a lackluster interest from investors could lead to high mortgage rates Thursday afternoon.
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