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Tuesday: Retail Sales, Industrial Production, Homebuilder Survey


From Matthew Graham at Mortgage News Daily: Without Conclusive Answers, The Sideways Curse ContinuesWhile it may be blessing for rates to be flatter and more predictable lately, the fact that the sideways range is close to long-term highs feels more like a curse. … Apart from the year-end drift in December and the false start created by strong econ data in February, bonds have spent almost all of their time in the same range for 6 months now. [30 year fixed 6.67%]
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• At 8:30 AM ET, Retail sales for April is scheduled to be released.  The consensus is for 0.6% increase in retail sales.

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for April. The consensus is for a 0.1% decrease in Industrial Production, and for Capacity Utilization to decrease to 79.7%.

• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of 45 unchanged from 45 last month.  Any number below 50 indicates that more builders view sales conditions as poor than good.

MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 0.51% in April”

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