Mortgage Rates continue to hold so far this week as the Bond Market continues to hold without much movement. The market opened today with the following data: at 8:38 AM: MBS are up +6bp. New Home Sales will be released at 10:00 AM. at 10:00 AM: MBS are up +6bp (UMBS 30yr 6.0 at 100.91), around 3bp higher than yesterday at this time. This morning, June new home sales fell 1% from May to an annual rate of 617,000, below the consensus of 640,000, and the lowest level since December. The Global Services PMI rose to 56, above the consensus of 55. The Dow is down 350 points. The results from the 5yr Treasury auction will come out around 1:00 PM.