Mortgage Market Guide's recap of what happened this week and why.
This week, rates hovered near the best levels ever as Stocks took a break from their sharp rise higher. Housing continues to shine as New Home Sales for June reported far better numbers than expected. The ugly item for the week was a higher than expected Initial Claims number, which broke a long streak of declining numbers. Next week is a huge week, with $140 billion in Treasuries being auctioned, a ton of high impact reports being released, and come next Wednesday, we get the Fed's Monetary Policy Statement.
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