Treasury Auctions (5,7,10,30 year securities)
There is also the 5-year Treasury Note auction taking place today that may slightly influence mortgage rates. The Treasury will sell 5-year Notes today and 7-year Notes tomorrow. These sales will tell us if there is an appetite in the markets for medium-term securities. If investor demand in these sales is strong, particularly from international buyers, the broader bond market should move higher, pushing mortgage rates lower. But a lackluster interest from investors could lead to bond selling and higher mortgage pricing. The results of the sales will be announced at 1:00 PM ET, so if there is a reaction, it will come during early afternoon trading.