Existing Home Sales from National Assoc of Realtors
Starting the week's calendar will be December's Existing Home Sales from the National Association of Realtors late tomorrow morning. This data will give us a measurement of housing sector strength and mortgage demand by tracking home resales in the U.S. It is expected to show a decline in sales from November's level, meaning the housing sector softened last month. Ideally, bond traders would like to see a large decline in sales that would point toward sector weakness because weaker housing makes broader economic growth more difficult. However, as long we don't see a significant surprise in its results, it shouldn't have a noticeable impact on tomorrow mortgage rates.