Monday, February 29, 2016

Tuesday: ISM Mfg, Vehicle Sales, Construction Spending

by Bill McBride on 2/29/2016 08:58:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways Again; Anxiety Builds

For now, the most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios. Some of the less aggressive lenders are back up to 3.75%, but that was the case as of late last week as well.
• At 10:00 AM ET, ISM Manufacturing Index for February. The consensus is for the ISM to be at 48.5, up from 48.2 in January. The employment index was at 45.9%, and the new orders index was at 51.5%.

• Also at 10:00 AM, Construction Spending for January. The consensus is for a 0.5% increase in construction spending.

• All day, Light vehicle sales for February. The consensus is for light vehicle sales to increase to 17.6 million SAAR in February from 17.5 million in January (Seasonally Adjusted Annual Rate).