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Economic calendar, week of June 14-18

By Holden Lewis · Bankrate.com
Monday, June 14, 2010
Posted: 9 am ET

There are a few reports on this week's economic calendar that could have a modest impact on mortgage rates.

The highlight is Thursday's Consumer Price Index for May. The consensus is that prices were flat, give or take a tenth of a percentage point. I doubt that the CPI report will yield a surprise. I guess that's why they would call it a surprise. If the report says that prices rose dramatically higher than expected in May, you might see a rise in mortgage rates. It's unlikely that prices went up, because retail sales did poorly in May.

Wednesday has the Producer Price Index, which reflects May's wholesale prices. The PPI doesn't have much effect on mortgage rates, but it does set the table for the next day's CPI report. Also Wednesday, we get the reports on housing starts and building permits in May.

Even before the week's first economic reports were released, mortgage markets started off worse, threatening to send rates upward.

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