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Market Commentary go to market commentary

Updated on April 26, 2015 8:03:32 PM EDT This week brings us the release of six economic reports that may affect mortgage rates in addition to an FOMC meeting and a couple Treasury auctions. Two of the week's reports are considered to be extremely important to the financial and mortgage markets and can cause a great deal of volatility. Throw in the FOMC meeting and we have the makings of a highly important week, not only for mortgage rates but also for the broader financial markets.
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There is nothing scheduled for tomorrow that is likely to move rates. April's Consumer Confidence Index (CCI) will kick-off the week's schedule at 10:00 AM ET Tuesday. This index is considered to be an indicator of future spending by consumers. The Conference Board surveys 5,000 consumers from across the country about their personal financial situations. If sentiment is strong or rising, it is believed that consumers are more apt to make large purchases in the near future. However, if they are concerned about issues such as job security and savings, they will probably delay making large purchases. The latter is better for the bond market and mortgage rates because the expected slowdown in spending would keep inflation and economic growth to a minimum. On the other hand, a sizable increase could hurt the bond market, pushing mortgage rates higher Tuesday. It is expected to show a reading of 102.2, which would be an increase from March's 101.3 reading. The lower the reading, the better the news it is for mortgage rates.

Market Snapshot go to market snapshot

Weekly Indices  
   this week last week
6 Month CD   0.090 0.070
1 Year T-Bill  
2 Year T-Note   0.553 0.512
3 Year T-Note  
5 Year T-Note   1.395 1.306
10 Year T-Note   1.984 1.867
30 Year T-Bond   2.669 2.522

Mortgage  this week last week
30yr Conf Ntl Avg   3.670 3.670
15yr Conf Ntl Avg   2.940 2.940

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