Inauguration Day Starts Quietly

Outside of big events in Washington, D.C., it’s looking to be a pretty quiet day. Earlier this morning, the Mortgage Bankers Association announced that new Mortgage Applications fell 1.9% for the week ending January 15th. A little later, the National Association of Home Builders will publish its Housing Market Index for January. It is expected to remain at December’s level of 86.

Treasury prices are just a shade lower with little change to yields. The Ten-Year rests at 1.10%, the Long Bond at 1.85%, and the Two-Year’s yield is 13 basis points. Crude oil is up slightly to $53.42 while gold is off about $5 to $1,836. Equity indices are glowing slightly green.