Treasury Auctions (5,7,10,30 year securities)
The first of this week’s two relevant Treasury auctions will come tomorrow also. 5-year Treasury Notes will be sold tomorrow, followed by Thursday's 7-year Note sale. If these sales are met with a strong demand from investors, particularly tomorrow's auction, bond prices may rise during afternoon trading. This could lead to improvements to mortgage rates shortly after the results of the sales are posted at 1:00 PM ET each day. But a lackluster investor interest may create selling in the broader bond market and lead to slight upward revisions to mortgage rates.