The Mortgage Update 7-22-2013

The bond market might have just hit its stride, finding some stability for the first time in this post FOMC announcement era. This week is front loaded with several Housing Market metrics to be released. We will start the day with Existing Home Sales and New Home Sales on Wednesday. Both numbers are expected to show improvement. Existing Home Sales rose from 5.18 to 5.26 million while New Home Sales are expected to increase from 476k to a 485k annual pace. We will close the week with jobless claims and consumer sentiment. Let’s see if we can keep our pace this week before Non-Farm Payrolls are announced next week