Existing Home Sales from National Assoc of Realtors
December's Existing Home Sales from the National Association of Realtors is the first release, scheduled for 10:00 AM ET 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 an increase in sales from November's level, meaning the housing sector strengthened 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 big impact on mortgage rates.