Daily Rate Lock Advisory

Indexes Affecting Rate Lock

Low

Unknown

Fed Talk

There is no relevant economic data being released today due to the government shutdown. There weren’t any highly important reports scheduled for release today, but we would have seen a couple of moderately influential reports. This leaves just a bunch of Fed-member speeches throughout the day as the likely source of a noticeable intraday move in the markets and/or mortgage pricing. None of them stand out as likely to cause a reaction in the bond market or mortgage rates though.

Medium

Unknown

Univ of Mich Consumer Sentiment (Prelim)

Tomorrow does bring us another piece of data that may draw some attention. The University of Michigan will post their preliminary reading of their November Index of Consumer Sentiment at 10:00 AM ET tomorrow. This index gives us an indication of consumer willingness to spend by surveying consumers about confidence in their own financial situations. It is expected to show a small decline from October's final reading of 53.6. Favorable news for bonds would be a noticeably lower reading because waning sentiment means consumers are less optimistic about their own financial situations and are less likely to make large purchases in the near future. With consumer spending making up over two-thirds of our economy, any related data is watched closely. The lower the reading, the better the news for mortgage shoppers.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

Fed Talk

Univ of Mich Consumer Sentiment (Prelim)

Float / Lock Recommendation