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Weekly Economic Outlook

8/31/2010

This week is a very busy week for the economic calender. On Friday, We will see the Employment Situation Report be released.  This data shows an in-depth look consumer's spending, investing, and the labor market. The week is also filled with many other potential market movers including reports on the hosing market.

Here is a glance at what might impact mortgage rates this week:

Today

  1. FOMC Minutes (Estimate: high impact)
  2. S&P/Case-Shiller Home Price Index.  This report tracks the monthly change in value of the residential real estate in the United States. (Estimate: medium impact)
  3. Chicago Purchasing Managers Index (Estimate: low impact)
  4. Consumer Confidence.  This will change depending on how consumers are feeling.  If they consumer is more optimistic then they will be likely to spend money helping stocks while a pessimistic consumer will save money impacting the bond market. (Estimate: medium impact)

Wednesday

  1. ADP Employment Report  (Estimate: medium impact)
  2. ISM Manufacturing Index (Estimate: medium impact)
  3. MBA Applications Index (Estimate: low impact)
  4. Construction Spending (Estimate: low impact)

Thursday

  1. Productivity and Costs (Estimate: medium impact)
  2. Weekly Jobless Claims (Estimate: medium impact)
  3. Factory Orders (Estimate: medium impact)
  4. Pending Home Sales Index (Estimate: medium impact)
  5. Announcement from Department of Treasury of new debt supply. (Estimate: medium impact)

Friday

  1. Employment Situation . The data is likely to show our economy has continued to lose jobs after last's month worse than expected loss of 131,000 jobs.  The unemployment rate is expected to increase slightly. (Estimate: HIGH IMPACT)