Today's economic reports showed stronger than expected results but mortgage rates held steady as a result of investor fears of moving money into stocks.   July New Home sales were up 2.4% (vs expected down 1.3%).  However the Commerce Dept revised down June New Home sales to a drop of 5.1% and May New Home Sales down by 5.2%.  As such, investors did not pay much heed to the July #s given that they may be revised downward in the next two months.  In a separate report, the Conference Board said their index of consumer confidence in August rose to 56.9 (vs expected 53.0).  Analysts attributed most of this increased confidence in the price of gas easing but do not yet believe consumers will actually be spending more.  The Federal Reserve released the minutes from the Federal Open Market Committee (FOMC) meeting on Aug 4th and 5th.  The minutes showed that the Fed does not expect the economy to recover until the second half of 2009.  Most investors believe the Fed will not begin to raise rates until next year even with inflation running at 30 year highs.  Overall, the biggest impact on rates this week will be investor demand for $32 billion in 2 Year Notes issued by the Treasury Dept tomorrow and $22 billion in 5 Year Notes on Thursday.  Strong demand will enable rates to stay steady and perhaps move slightly lower.  Weak demand will have the opposite effect.  It is also important to note that any day the additional cost of .25 points (higher closing costs, not rates) will go into effect as a result of the increase in the Fannie Mae and Freddie Mac adverse market fee.