Wednesday, May 02, 2018

Thursday: Trade Deficit, Unemployment Claims, ISM non-Mfg Survey

by Bill McBride on 5/02/2018 07:04:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Uninspired by Fed or Economic Data

Mortgage rates were flat to slightly higher today, depending on the lender. The average lender was quoting the same rates as yesterday, but with slightly higher upfront costs (or a lower credit, depending on your scenario). That said, if you could only choose one word to describe the movement, it would be "flat." [30YR FIXED - 4.625%-4.75%]
emphasis added
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 220 thousand initial claims, up from 209 thousand the previous week.

• Also at 8:30 AM, Trade Balance report for March from the Census Bureau. The consensus is for the U.S. trade deficit to be at $50.0 billion in March from $57.6 billion in February.

• At 10:00 AM, the ISM non-Manufacturing Index for April. The consensus is for index to decrease to 58.5 from 58.8 in March.