Thursday, November 30, 2017

Friday: Vehicle Sales, ISM Mfg Index, Construction Spending

by Bill McBride on 11/30/2017 07:47:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Hit 1-Month Highs

Mortgage rates actually continued higher today at the same quicker pace seen yesterday. Due to the relatively narrow range during November, rates are now in line with their highest levels in more than a month whereas they were at 2-week lows just 2 days ago. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, with a few outliers at 3.875% and 4.125%. A few days ago, 3.875% was nearly as prevalent.
Tuesday:
• At 10:00 AM ET, ISM Manufacturing Index for November. The consensus is for the ISM to be at 58.4, down from 58.7 in October. In October, the employment index was at 59.8%, and the new orders index was at 63.4%.

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

• All day, Light vehicle sales for November. The consensus is for light vehicle sales to be 17.6 million SAAR in November, down from 18.0 million in October (Seasonally Adjusted Annual Rate).