Treasury Auctions (5,7,10,20,30 year)
We also have a Treasury auction to watch later today. 5-year Treasury Notes are being sold today, followed by 7-year Notes tomorrow. Results will be posted at 1:00 PM ET. If there was a strong demand from investors, we may see bonds improve this afternoon and mortgage pricing revise slightly lower before the end of the day. On the other hand, a weak interest in the securities could lead to an upward move in rates.