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Market Commentary

Updated on September 23, 2019 10:12:39 AM EDT

There is nothing of importance set for release today here domestically. This is the only day of the week doesn’t have something scheduled. The rest of the week brings us the release of six monthly and quarterly economic reports to watch in addition to a couple of Treasury auctions. Most of it is considered to be moderately importantly, but there is one report more important than the others coming late in the week.

Septembers Consumer Confidence Index (CCI) starts this week’s calendar at 10:00 AM ET tomorrow. This Conference Board index will be posted at 10:00 AM ET and gives us a measurement of consumer willingness to spend. It is expected to show a decline in confidence from last months reading, indicating that consumers were less optimistic about their own financial situations than last month. This means they are less likely to make a large purchase in the near future. That is favorable news for the bond market and mortgage rates because consumer spending fuels economic growth. Analysts are calling for a reading of approximately 134.0, down from Augusts 135.1 reading. The smaller the reading, the better the news for the bond market and mortgage rates.

Overall, Friday is the most important day of the week with three reports scheduled, including the most important of the week’s batch. The calmest day for rates could be Wednesday. There are a fairly large number of Fed member speaking engagements scheduled this week that could influence the markets also. Despite the lack of key economic data, it still could be a pretty active week for mortgage rates.

 ©Mortgage Commentary 2019

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888.844.7077
NMLS ID: 37411 | http://www.nmlsconsumeraccess.org/ | Texas Consumer Complaint and Recovery Notice

Alaska, Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Maryland, Michigan, New Mexico, Oregon, Texas, Utah,
Virginia, and Washington
AK37411, AZ0940290, CA BRE-01863044, CA DBO-603G892, FL MLD1188, HI-37411, ID MBL-7153, IL MB.6761146,
MD 21315, MI FL0018183, NM 03711, OR ML-4837, UT 9896852, VA MC-5623, and WA CL37411

Illinois Residential Mortgage License
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100 W. Randolph, 9th Floor
Chicago, IL, 60601
Tel: 844-768-1713



 

 

 

888.844.7077
NMLS ID: 37411 | http://www.nmlsconsumeraccess.org/ | Texas Consumer Complaint and Recovery Notice

Alaska, Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Maryland, Michigan, New Mexico, Oregon, Texas, Utah,
Virginia, and Washington
AK37411, AZ0940290, CA BRE-01863044, CA DBO-603G892, FL MLD1188, HI-37411, ID MBL-7153, IL MB.6761146,
MD 21315, MI FL0018183, NM 03711, OR ML-4837, UT 9896852, VA MC-5623, and WA CL37411

Illinois Residential Mortgage License
James R. Thompson Center
IDFPR-Residential Mortgage Banking
100 W. Randolph, 9th Floor
Chicago, IL, 60601
Tel: 844-768-1713