This Is The Week Ahead for November 1st

The week ahead has several economic reports that could provide direction for mortgage rates for several weeks to come. In addition to the monthly economic reports scheduled to be released this week, the Federal Open Market Committee will also be meeting.

The Institute for Supply Management (ISM) will post their manufacturing index on late Monday morning. This index is important as it provides a gauge on manufacturing strength.

The second report of the week will come on Tuesday when September Factory Orders will be released. The outcome of the news is not as significant as the ISM Index.

Although the FOMC will begin their meeting on Tuesday, it will not adjourn until Wednesday afternoon at 2:15 PM, EST. The key will be the exact verbiage of their statement. So keep your eyes and ears open on Wednesday afternoon.

The fourth report of the week will come on Thursday, with the reading of 3rd Quarter Productivity. This report is the least significant for the week and will have moderate impact on the markets.

The final and most impacting report for the entire month will come on Friday as many expect the Employment Report to show a rise in unemployment to 9.9% with a loss of of roughly 175,000 jobs.

Home loan shoppers and retirement funds will continue their battle for investment dollars from abroad and here in the US. As-is the par for the course, good economic news will favor the stock market and take money away from mortgage bonds which will result in higher mortgage rates. Conversely, bad economic news will drive investors into the safety of bonds which will help home buyers with lower mortgage rates.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 1st.