I am on a family vacation and will be returning to business as usual following Labor Day. While I’m enjoying a few days off, here are some of the scheduled economic indicators that may impact mortgage rates this week.
Tuesday, August 28: Auto Sales and Consumer Confidence
Wednesday, August 29: GDP Chain Deflator, Gross Domestic Product (GDP), Pending Home Sales and Beige Book
Thursday, August 30: Personal Consumption Expenditures (PCE) and Initial Jobless Claims
Friday, August 31: Chicago PMI and Consumer Sentiment (UoM)
Of course unscheduled events may impact mortgage rates as well. Remember that typically if the stock market is rallying, mortgage rates tend to suffer as investors will trade the safety of bonds (like mortgage backed securities) for the potential higher return of stocks.
Mortgage Master Service Corporation will be closed on Monday, September 3, 2012 to celebrate Labor Day.