Treasury Auctions (5,7,10,30 year securities)
There is no relevant data scheduled for release tomorrow morning, but we do have the first of this week's two Treasury auctions that have the potential to influence rates. The Fed will auction 5-year Notes tomorrow and 7-year Notes on Thursday. Neither of these sales will directly impact mortgage pricing, but they can influence general bond market sentiment. If the sales go poorly, we could see broader selling in the bond market that leads to upward revisions to mortgage rates.