Thursday, June 29, 2017

Friday: Personal Income and Outlays, Chicago PMI

by Bill McBride on 6/29/2017 08:51:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Highest in More Than a Month

Mortgage rates are higher again today, with the average lender now back to levels not seen since May 16th, 2017.  Unless you've been following every little day-to-day change in rates, the apparent drama over the past few days is laughable.  In the worst cases, some borrowers are now seeing rate quotes that are an eighth of percentage point higher than those seen on Monday morning. [30 year fixed 4% for top scenarios]
emphasis added
Friday:
• At 8:30 AM ET, Personal Income and Outlays for May. The consensus is for a 0.3% increase in personal income, and for a 0.1% increase in personal spending. And for the Core PCE price index to increase 0.1%.

• At 9:15 AM, Chicago Purchasing Managers Index for June. The consensus is for a reading of 58.2, down from 59.4 in May.

• At 10:00 AM, University of Michigan's Consumer sentiment index (final for June). The consensus is for a reading of 94.5, from the preliminary reading 94.5.