What May Impact Mortgage Rates: July 2 – July 6, 2012

We have a short week packed with economic data with Independence Day on Wednesday and the Jobs Report on Friday.  Here are some of the economic indicators that are scheduled to be released this week:

• Monday, July 2: ISM Index.
• Wednesday, July 4: Happy Independence Day!
• Thursday, July 5: ADP National Employment Report, Initial Jobless Claims and ISM Services Index
• Friday, July 6: THE JOBS REPORT

Mortgage rates are based on mortgage backed securities (bonds) and when the stock market is doing well, mortgage rates (or the pricing for a rate) tend to raise as investors will trade the safety of bonds for the potential greater return of stocks. The reverse is also true.

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