Housing data dominates the headlines this week with news on August Housing Starts and Building Permits releasing on Wednesday and Existing Home Sales on Thursday. Housing Starts rebounded slightly in July after hitting a nine-month low in June, while sales of existing homes saw a fourth straight month of declines in July, their slowest pace in more than two years. Low inventory has been an issue for many homebuyers across the country this year, and it will be especially important to see what the data for August shows in that regard.
In the manufacturing sector, the Empire State Index fell to 19 points in September. This was down nearly 7 points from August's reading of 25.6, which was a 10-month high.
Mortgage Bonds fell below a key support level and have neared 2018 lows.