‚Äč Bond Market Update

Bond Market Update

Bond Market Update

Market Update

Friday, July 30, 2021

What's going on and why does it matter?
Mortgage bonds opened higher this morning and stocks are set to open lower amid the ongoing rise in Covid-19 delta variant cases across the world, including in the US. This is leading to fears that that restrictions and lockdowns could be extended and/or reinstated. Meanwhile, tensions are continuing to rise between the US and China with reports that the SEC has stopped processing registrations of IPOs by Chinese companies as it develops new guidance on risk disclosures. The Fed is scheduled to purchase up to $4.621 billion of mortgage bonds today.

What should you do about it?
Watch and see if mortgage bonds can continue their rally, but be prepared to lock your rate if the market changes directions.

Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Mon 26 Jul New Home Sales-Units Jun 769k 800k 767k
Tue 27 Jul Durable Goods Jun 2.3% 2.1% 0.8%
Tue 27 Jul Consumer Confidence Jul 127.3 124.1 129.1
Wed 28 Jul Fed Funds Target Rate - 0-0.25% 0-0.25% 0-0.25%
Thu 29 Jul GDP advance Q2 2021 6.4% 8.5% 6.5%
Thu 29 Jul Core PCE Prices advance Q2 2021 2.5% 5.9% 6.1%
Thu 29 Jul Initial Jobless Claims Week ending July 24 419k 375k 400k
Thu 29 Jul Pending Home Sales-Change Jun 8.0% 0.5% -1.9%
Fri 30 Jul Personal Income Jun -2.0% -0.3% 0.1%
Fri 30 Jul Core PCE Price Index Jun 0.5% 0.6% 0.4%
Fri 30 Jul Chicago PMI Jul 66.1 63.5  
Fri 30 Jul U of Mich. Consumer Sent. Jul 80.8 80.8