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Ventura County Weekly Rate Advisory, Home Loans

This week is packed with economic releases and major events that will likely lead to a fair amount of volatility in the markets and mortgage pricing. There are seven reports scheduled for release along with another FOMC meeting. There is no relevant data due tomorrow, so all seven reports come over four days.The first data will be posted Tuesday morni ng with the release of the Consumer Confidence Index (CCI) for the month of October. This Conference Board index will be posted at 10:00 AM and gives us a measurement of consumer willingness to spend. It is expected to show a small increase from last month's 99.8 reading, indicating that consumers are more likely to make large purchases in the near future. As long as the reading doesn't exceed 100.0, we will likely see the bond market react favorably to this report. This data is watched closely because consumer spending makes up two-thirds of the U.S. economy.The second report of the week will be posted Wednesday morning with the release of the preliminary reading of the 3rd Quarter Gross Domestic Product (GDP). The GDP is considered to be the benchmark measurement of economic growth because it is the sum of all ... more

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