Here are some scheduled economic indicators that are scheduled to be released the week of April 23, 2012:
Tuesday, April 24: Consumer Confidence and New Home Sales
Wednesday, April 25: Durable Goods Orders and FOMC Meeting
Thursday, April 26: Initial Jobless Claims and Pending Home Sales
Friday, April 27: Consumer Sentiment Index (UoM); GDP – Gross Domestic Product and ECI – Employment Cost Index
Remember, when the stock market is getting pummeled, bonds (like mortgage backed securities) tend to improve as investors will seek the safety of bonds. The reverse is also true – when the DOW is having a great day, we tend to see mortgage interest rates rise. As I write this post (10:11 am) the DOW is down about 141 and mortgage backed securities are in the "green".
It is highly unlikely that the Fed will make any changes to the Fed Funds Rate on Wednesday. Investors will be all ears to hear what the Fed has to say including signs of inflation or if the economy is improving (both of which may cause mortgage rates to trend higher).