Welcome to November! As we start the first business week, there are a number of economic reports out this week that will affect mortgage rates.
The biggest report this week will be Friday's important Employment data. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month, since the health of the labor market is perhaps the single biggest factor in the performance of the economy. Also this week, the ISM manufacturing index and the Construction Spending report will be released on Monday. ISM Services is scheduled for Wednesday, and Productivity will come out on Thursday. Finally, Pending Home Sales, very important to all of us, will be released on Friday.
It should be a wild week. I'll do my best to keep you informed. Hope yours is a good one!!
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