Updated on September 17, 2021 10:06:39 AM EDT
Today’s sole relevant economic report was September’s Index of Consumer Sentiment from the University of Michigan at 10:00 AM ET. It came in at 71.0, up a little from August’s 70.3 but lower than forecasts of 72.0. This means surveyed consumers are a little more optimistic about their own financial situations this month than last. Since it was an increase but lower than expected, we can consider the data neutral for bonds and mortgage rates. The revised reading for this month will come in two weeks.
Next week’s economic releases are mostly housing-related reports with none of them considered to be highly important. There also is a Treasury auction scheduled that may affect rates during afternoon trading one day. However, the most important day will be Wednesday because of the FOMC meeting that will adjourn, followed by revised economic projections from the Fed and a press conference with Chairman Powell that afternoon. Monday has nothing of importance set, meaning we can expect weekend news to be the biggest influence on trading as the new week begins. Look for details on all of next week’s activities in Sunday evening’s weekly preview.
©Mortgage Commentary 2021