Monday, April 30, 2018

Tuesday: ISM Manufacturing, Construction Spending, Auto Sales

by Bill McBride on 4/30/2018 07:52:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Mostly Sideways to Begin Busy Week

Mortgage rates didn't move much today, which keeps them right in line with last week's lowest levels. That sounds pretty good! Unfortunately, any time prior to last week, those "lowest levels" would have been the highest in more than 4 years. [30YR FIXED - 4.625%-4.75%]
emphasis added
Tuesday:
• At 10:00 AM ET, ISM Manufacturing Index for April. The consensus is for the ISM to be at 58.7, down from 59.3 in March. The PMI was at 59.3% in March, the employment index was at 57.3%, and the new orders index was at 61.9%.

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

• All day, Light vehicle sales for April. The consensus is for light vehicle sales to be 17.2 million SAAR in March, down from 17.4 million in March (Seasonally Adjusted Annual Rate).