Updated on October 18, 2019 10:20:32 AM EDT
Today’s only economic data was Septembers Leading Economic Indicators (LEI) at 10:00 AM ET. The Conference Board announced a 0.1% decline in the index when analysts were expecting to see a slight increase. The weaker reading is good news for bonds and mortgage rates since this index attempts to predict future economic growth. However, it is not considered to be a highly important report and has had a minimal impact on this morning’s rates.
Next week has several economic reports that we will be watching in addition to a couple of Treasury auctions. One of the reports is more important than the others but comes late in the week. There is nothing of importance set for Monday, meaning we can expect weekend news and possibly stock movement to drive bond trading and mortgage rates as the new week begins. Look for details on all of next week’s activities in Sunday evening’s weekly preview.
©Mortgage Commentary 2019