Tuesday, January 02, 2018

Wednesday: ISM Mfg, Construciton Spending, Vehicle Sales, FOMC Minutes and More

by Bill McBride on 1/02/2018 07:29:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Begin New Year Under Pressure

Bond markets weakened somewhat quickly, thus raising the risk that early 2018 would indeed follow-through on the promise that's been broken time and again when the average 30yr fixed rate has attempted to move up from the 4% level. [30YR FIXED - 4.0%-4.125%]
emphasis added
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• Early, Reis Q4 2017 Office Survey of rents and vacancy rates.

• At 10:00 AM, ISM Manufacturing Index for December. The consensus is for the ISM to be at 58.0. The ISM manufacturing index was at 58.2% in November, the employment index was at 59.7%, and the new orders index was at 64.0%.

• At 10:00 AM, Construction Spending for November. The consensus is for a 0.6% increase in construction spending.

• All day, Light vehicle sales for December. The consensus is for light vehicle sales to be 17.5 million SAAR in December, up from 17.4 million in November (Seasonally Adjusted Annual Rate).

• At 2:00 PM, FOMC Minutes, Meeting of December 12 - 13, 2017