Daily Rate Lock Advisory

Indexes Affecting Rate Lock

High

Unknown

None

There is no relevant data or other events scheduled for today. The rest of week has six economic reports for the markets to digest in addition to the Fed Beige Book and a speech by Fed Chairman Powell. Two of the releases are considered to be highly important and can heavily affect the markets. The most important days for rates come mid and late week.

Medium

Unknown

Consumer Confidence Index

November’s Consumer Confidence Index (CCI) will start this week’s activities late tomorrow morning. This Conference Board index helps us track consumer confidence in their own financial and employment situation. It is thought that they are more apt to make larger purchases in the near future, fueling economic growth if confidence is high. This is important because consumer spending makes up over two-thirds of the U.S. economy and strength in it makes long-term securities such as mortgage-related bonds less attractive to investors. Traders are expecting to see the index slip a couple points from October's 102.5 meaning surveyed consumers were less optimistic about their own financial situations this month than they were last month. The weaker the reading, the better the news for mortgage rates.

High

Unknown

Employment Situation

Overall, Friday is the best candidate for most important day for rates due to the Employment report being released, but there is a good chance of seeing noticeable movement in pricing multiple days, including Wednesday and Thursday with highly important events also scheduled. Watching the markets carefully this week would be a good idea if still floating an interest rate and closing soon.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

None

Consumer Confidence Index

Employment Situation

Float / Lock Recommendation