Updated on November 22, 2019 10:25:51 AM EST
Today’s relevant economic report was November’s revised University of Michigan Index of Consumer Sentiment. It came in at 96.8, up from the preliminary reading two weeks ago and a little higher than forecasts. The higher reading means more surveyed consumers felt better about their own financial situation than did last month. Because rising sentiment usually means consumers are more willing to spend money, we should consider this news slightly negative for mortgage rates.
Next week has a handful of relevant economic reports for the markets to digest, including one that is of elevated importance. All of the data will be posted over two days though due to the shortened holiday week. Look for details on all of next week’s activities in Sunday evening’s weekly preview.
©Mortgage Commentary 2019