Updated on April 24, 2019 10:45:06 AM EDT
There is nothing of relevance set for release this morning. However, we do have an afternoon event to watch in the 5-year Treasury Note auction. These types of sales don’t directly impact mortgage pricing, but they can influence general bond market sentiment. If the sales go poorly, we could see broader selling in the bond market that leads to upward revisions in mortgage rates. On the other hand, strong sales usually make government securities more attractive to investors and bring more funds into bonds. The buying of bonds that follows often translates into lower mortgage rates. Results of the sales are usually posted at 1:00 PM ET each auction day, so look for any reaction to come during early afternoon hours.