Treasury Auctions (5,7,10,20,30 year)
We have two events scheduled today that may affect mortgage rates, but both come during afternoon trading. The first is the 20-year Treasury Note auction results at 1:00 PM ET. If this sale is met with a strong demand from investors, particularly international buyers, bond prices may rise during early afternoon trading. This could lead to a slight improvement in mortgage pricing. On the other hand, a lackluster interest in the securities may create selling in the broader bond market, causing an upward revision to rates this afternoon.