The Mortgage Update

Treasuries rose for a fifth day after Ben Bernanke signaled the central bank will need to keep buying bonds for the foreseeable future. Treasuries auctions this week suggest demand for safer assets is increasing, which could be good news for the mortgage markets as well. It’s a slower news day with Producer Price Index due out at 8:30 and Consumer Sentiment at 9:55. Forecasts suggest PPI will increase .5% and Consumer Sentiment Index will remain unchanged from June. Let’s see if we can sustain this rally into the weekend.