New Home Sales
Besides weekly unemployment figures, Chairman Powell’s Senate testimony and the second auction, we also will get August’s New Home Sales report tomorrow. The Commerce Department is expected to say at 10:00 AM ET that sales of newly constructed homes rose last month, indicating the new home portion of the housing sector strengthened. This report will likely not have a noticeable impact on mortgage rates unless it differs greatly from forecasts. It is the week's least important report in terms of potential impact on mortgage rates, partly because it covers only the small portion of all homes sales that yesterday’s Existing Home Sales report did not.