A nearly week long mortgage rate move downward ended yesterday when mortgage rates made a slight move upward. Today mortgage rates are near moving sideways all time historic lows.

Expect things to be fairly quiet today since there is no domestic Economic data coming out. For this reason as well, market watchers are more focused on news coming from the European front.

Mortgage Rates and the Week Ahead

There is a fair amount of economic data coming out next week including pending home sales, the FHFA Home Price Index, durable goods orders, new home sales, GDP, and consumer sentiment.

As usual, expect any significant news coming out of Europe to be a potential rate mover as well.

Economic Calendar for Week of July 23, 2012

• Monday – N/A
• Tuesday – N/A
• Wednesday – New Home Sales
• Thursday – Durable Goods Orders, Jobless Claims, Pending Home Sales
• Friday – GDP, Consumer Sentiment

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