bonds-continue-end-of-year-rally

By:: Paul King - MortgageLoan.com

November Existing Home Sales report indicated that home resales increased last month according to expectations. This did not affect the rally today. Today's activity is largely a continued result of the new home sales data that came in drastically under expectations last Friday. Mortgage Markets will close early today and re open after the holiday on Wednesday. On Wednesday we will get results from the ISM manufacturing index, and also the minutes from the last FOMC meeting. Friday we'll get the Jobs report, which will likely be the most significant data of the week.

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