Monday, October 15, 2018

Tuesday: Industrial Production, Job Openings, Homebuilder Survey

by Bill McBride on 10/15/2018 06:28:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Stay Steady, Waiting For a Sign

Mortgage rates were sideways to slightly higher today, prolonging a 3-day trend of exceptionally light volatility. The 5 days before that (beginning on Wednesday, October 3rd) were completely different, with a huge move higher at first followed by a moderate recovery at the beginning of last week. That recovery largely followed the stock market weakness. [30YR FIXED - 5.0%]
emphasis added
Tuesday:
• At 9:15 AM ET, The Fed will release Industrial Production and Capacity Utilization for September. The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 78.2%.

• At 10:00 AM, The October NAHB homebuilder survey. The consensus is for a reading of  67, unchanged from 67. Any number above 50 indicates that more builders view sales conditions as good than poor.

• Also at 10:00 AM, Job Openings and Labor Turnover Survey for August from the BLS. Jobs openings increased in July to 6.939 million from 6.822 million in June. The number of job openings were up 12% year-over-year in July, and Quits were up 1% year-over-year.