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The economic calendar is quiet until Thursday, and even the late-week economic reports are unlikely to move mortgage rates much. Disruption created by Mount Eye (that's my nickname for the Eyj[qijas[dkj volcano in Iceland) is more likely to affect economies.
At 8:30 a.m. Thursday (all times Eastern), the Labor Department releases the Producer Price Index for March. We already had the Consumer Price Index last week, and that's more indicative of final prices. At 10 a.m. Thursday, the Realtors release the Existing Home Sales report for March. And the Federal Housing Finance Agency, which oversees Fannie and Freddie, issues its home price index. Neither is likely to move markets, and the same goes for the New Home Sales report for March, released by the Commerce Department at 10 a.m. Friday.
Sometimes mortgage rates move in response to things that are scheduled in advance, such as the monthly employment report or Treasury auctions. But most of the time, rates move in response to unexpected events, such as volcanic eruptions and big lawsuits and criminal prosecutions.
