Over the past few business days, the sideways momentum gradually began to give way to modest improvements. Lenders have been slow to adjust their rate sheet offerings, but as of today, the average lender is back in line with its lowest rates since September 9th. More than a few lenders offered mid-day improvements today. [Most Prevalent Rates 30YR FIXED – 3.75%]
• At 10:00 AM, ISM Manufacturing Index for September. The consensus is for a reading of 50.0, up from 49.1 in August. The employment index was at 47.4%, and the new orders index was at 47.2%.
• Also at 10:00 AM, Construction Spending for August. The consensus is for a 0.3% increase.
• Early, Reis Q3 2019 Office Survey of rents and vacancy rates.