Treasury Auctions (5,7,10,20,30 year)
Wednesday morning doesn't have any morning economic releases we need to be concerned with, but there are two afternoon events that may cause a change in rates. First is the 20-year Treasury Note auction that has the potential to influence mortgage rates. If this sale is met with a strong demand from investors, particularly international buyers, bond prices may rise during afternoon trading. This could lead to an improvement in mortgage rates shortly after the results of the sale are posted at 1:00 PM ET. On the other hand, a lackluster interest in the securities may create selling in the broader bond market and lead to a slight upward revision to mortgage rates Wednesday afternoon.