Commentary: There is nothing in the way of economic data for mortgage investors to chew on this morning and trading volumes are thin in front of the Presidents Day Holiday on Monday.
Looking ahead to next week Uncle Sam with be in the credit markets looking to sell $99 billion worth of 2-, 5- and 7-year notes. The Treasury note auctions will run from Tuesday through Thursday. Each auction will conclude at 1:00 p.m. ET. The housing story will dominate the economic calendar. The National Association of Realtors is set to release its January Existing Home Sales number at 10:00 a.m. on Wednesday which will be followed by the Commerce Department's January New Home Sales stats at 10:00 a.m. ET on Thursday. Both reports are expected to show the pace of sales slumped in January as chronic labor market weakness and rising mortgage interest rates took a toll on demand.
Be patient - be disciplined - and play it by the numbers.
THE MARKET IS ALWAYS RIGHT! . YOU AND I ARE SOME OF THE TIME
