Thursday, September 28, 2017

Friday: Personal Income and Outlays, Chicago PMI and More

by Bill McBride on 9/28/2017 06:50:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Trying to Find a Ceiling

Mortgage rates were decidedly higher this morning, with most lenders back above last week's highs.  At the time, those were the highest rates in more than a month, although the range has been relatively narrow.  Underlying bond markets improved throughout the day, however, resulting in a fair amount of lenders revising rate sheets for the better.  After those revisions, rates are pretty close to yesterday's levels. [30YR FIXED - 3.875-4.0%]
• At 8:30 AM ET, Personal Income and Outlays for August. 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 0.2%.

• Early, Reis Q3 2017 Office Survey of rents and vacancy rates.

• At 9:45 AM, Chicago Purchasing Managers Index for September. The consensus is for a reading of 58.6, down from 58.9 in August.

• At 10:00 AM: University of Michigan's Consumer sentiment index (final for September). The consensus is for a reading of 97.2, unchanged from the preliminary reading 97.6.