Yesterday, Treasury prices dropped as initial jobless claims fell and existing home sales jumped more than predicted. Today, Treasuries are relatively flat to yesterday’s close. With no economic data, Treasuries and mortgage bonds will take their queues from equities.
From mortgage banking to PR and more, Victoria’s 9+ years at Quicken Loans come in handy when writing cool stories. Before QL, she worked with and for notable national and state politicians. With degrees from MSU and U of M, her allegiance to the Mitten State is indisputable. She loves decorating, photography, the Red Wings, cruising in her G6 (the car), and most importantly, hanging out with family and friends.
Mortgages have given back their small gains this morning following the CPI report which showed that the cost of living in the U.S. climbed last month for the first time in 4 months. Hopefully, this will ease concerns of a slowdown in growth and deflation. Later this morning the August U.S. consumer confidence report will be released.