Bill Bodnar from the Mortgage Market Guide recaps the week, discussing why the bond market may be a bit fidgety and whether the Fed can manufacture a soft landing.

Refinancing levels reached new three-year peaks while overall mortgage applications declined in the most recent week, as tracked by the Mortgage Bankers Association. So reports Reuters.

Sales of new U.S. homes tumbled by 12.8% in July to a seasonally adjusted annual rate of 635,000 units, according to the Commerce Department. So reports the Associated Press.