Leading Economic Indicators (LEI) from the Conference Board
The Conference Board will close this week’s calendar when they release their Leading Economic Indicators (LEI) for August at 10:00 AM ET Thursday. This index attempts to predict economic activity over the next three to six months. Forecasts show them slipping 0.1%, meaning the indicators are pointing toward slightly weaker economic activity in the coming months. The larger the decline, the better the news for mortgage pricing.
Overall, Wednesday is easily the most important day for rates because of the FOMC events, but Tuesday’s Retail Sales report can be a market mover also. The calmest day may end of being Friday. We are expecting to see a great deal of volatility in the markets this week, meaning mortgage rates will not remain flat. If still floating an interest rate and closing in the near future, it would be prudent to keep an eye on the markets.