Bond Market Update
Market UpdateTuesday, April 20, 2021
What's going on and why does it matter?
Mortgage bonds opened flat this morning and they appear to be drifting sideways in the absence of market-moving news. There are renewed worries about rising Covid cases, particularly in Asia, and that may impact market sentiment this week. The economic calendar is empty again today and it will remain so until Thursday's initial jobless claims report. The Fed is scheduled to purchase up to $6.618 billion of mortgage bonds today.
What should you do about it?
Watch and see if mortgage bonds can remain in positive territory above their 10-day moving average, but be prepared to lock your rate if mortgage bonds fall below that level.
Economic CalendarEconomic reports that may impact mortgage rates this week:
|Thu 22 Apr||Initial Jobless Claims||Week ending Apr 17||576k||617k|
|Thu 22 Apr||Existing-Home Sales||Mar||6.22M||6.19M|
|Fri 23 Apr||New Home Sales||Mar||775k||886k|
|Fri 23 Apr||Durable Goods||Mar||-1.2%||1.8%|