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Week of Oct 17, 2016
Posted On: October 18th, 2016 9:36PM
Last week mortgage rates headed up most of the week as economic data releases continued to support a strengthening economy, and traders saw increasing odds on a Fed rate hike before the end of 2016. The general feeling on the street is that there will be a rate hike this year, in December. It is possible that the FOMC could vote in its November meeting to raise rates, but that’s unlikely given that there is no scheduled press conference after the November meeting and the meeting is only a few days ahead of the presidential elections.
This week’s economic calendar, while relatively light, does have a number of top-tier releases. Wednesday evening brings the third and final televised Presidential debate, although the economic focus will likely remain focused on data. Some of the key reports for the week include Tuesday’s CPI report, Wednesday’s housing starts report, and Thursday’s existing home sales report.
Economic Calendar for the week of 10/17/2016 to 10/21/2016:
Monday: Empire Manufacturing, Industrial Production and Capacity Utilization
Tuesday: CPI, Real average Weekly Earnings and NAHB Housing Market Index
Wednesday: MBA Mortgage Applications, Housing Starts, Building Permits and Beige Book
Thursday: Import Price Index, Initial Jobless Claims, Continuing Claims, and Philadelphia Fed Business Outlook, Bloomberg Consumer Comfort, Existing Home Sales, and Leading Index
