by Bill McBride on 10/14/2015 06:21:00 PM
Wednesday, October 14, 2015
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for 270 thousand initial claims, up from 263 thousand the previous week.
• Also at 8:30 AM, the Consumer Price Index for September from the BLS. The consensus is for a 0.2% decrease in CPI, and a 0.1% increase in core CPI.
• Also at 8:30 AM,NY Fed Empire State Manufacturing Survey for October. The consensus is for a reading of -7.0, up from -14.7.
• At 10:00 AM, the Philly Fed manufacturing survey for October. The consensus is for a reading of -1.0, up from -6.0.
From Matthew Graham at Mortgage News Daily: Mortgage Rates Drop After Weak Economic Data
Mortgage rates dropped quickly today, getting them much of the way back to lows seen at the beginning of the month. For context, there has only been one day in the past 5 months with better rates (Friday October 2nd, immediately following the weak jobs data). That means the average lender is quoting conventional 30yr fixed rates between 3.75 and 3.875% on top tier scenarios. A few of the more aggressive lenders are already back down to 3.625%Here is a table from Mortgage News Daily: