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MARKET COMMENTARY

A weekly look at where mortgage interest rates are headed. A weekly Economic Calendar is also included.

Market Commentary

Over the past week, treasuries were range bound with economic releases and Fed speak around consensus. The yield on U.S. 10yr Treasuries hovered around 2.000%, and originators experienced high volumes of locks and are getting pushed beyond capacity in underwriting and process departments.

The coming week brings several top-tier releases, with the key economic data release this week is the NFP report on Friday. Monday and Wednesday bring the ISM survey and ADP survey, respectively. In the bond market, we expect continued high mortgage origination and slow corporate issuance.

Economic Calendar for the week of 07/01/2019 to 07/05/2019:

Monday: ISM Manufacturing, Construction Spending
Tuesday: Wards Total Vehicle Sales
Wednesday: ADP, MBA Mortgage Applications
Thursday:
Friday: Non-Farm payroll

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