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Market Commentary

Updated on June 22, 2018 10:16:40 AM EDT

There is nothing scheduled for today that is expected to affect mortgage rates. If there is an intraday move in bonds and mortgage pricing, it likely will be a result of stock movement. Generally speaking, stock strength usually has a negative reaction on bonds and pushes mortgage rates upward. On the other hand, stock selling leads to funds being brought into bonds, causing mortgage rates to move lower. If the major stock indexes remain near current levels, bonds and mortgage rates should follow suit today.

Next week has a handful of relevant economic releases scheduled along with a couple of Treasury auctions that we will be watching. Only two of the releases carry much importance but neither are considered major or key pieces of data. Monday does bring a minor release in May’s New Home Sales report. It tracks strength in the small new home portion of the housing sector. It likely will not cause much movement in mortgage rates. Look for details on next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2018

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PRMI NMLS No. 3094. Branch NMLS 252910. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. Alabama Banking Department Bureau of Banking MC 20316. Arkansas Securities Department 11558. Florida Office of Financial Regulation MLD646. Department of Banking and Finance 6521. Office of Financial Institutions #771. Missouri Division of Finance. Mississippi Department of Banking and Consumer Finance, 3094. Oklahoma Department of Consumer Credit ML010027. Department of Financial Institutions 109282.

PRMI NMLS No. 3094. Branch NMLS 252910. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. Alabama Banking Department Bureau of Banking MC 20316. Arkansas Securities Department 11558. Florida Office of Financial Regulation MLD646. Department of Banking and Finance 6521. Office of Financial Institutions #771. Missouri Division of Finance. Mississippi Department of Banking and Consumer Finance, 3094. Oklahoma Department of Consumer Credit ML010027. Department of Financial Institutions 109282.