U.S. week aheadExisting Home Sales • TuesdayWe look for existing home sales to dip 2.2% in July. It is no secret that the housing market is one of the most strained sectors of the economy. Mortgage rates rose to 6.5% on average in June and have since surpassed that. Pending home sales fell in June and mortgage purchase applications ticked up only modestly. As we have been noting, longer-term interest rates (including mortgage rates) are being propped up by a variety of factors that are unlikely to subside in the near-term.