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Economic calendar, week of June 28-July 2

By Holden Lewis · Bankrate.com
Monday, June 28, 2010
Posted: 11 am ET

The June employment report comes out Friday. It would be prudent to lock a mortgage rate before then, but I wouldn't blame you for taking a gamble.

According to Briefing.com, the consensus prediction is that nonfarm payroll jobs decreased by 100,000 this month, and the unemployment rate edged down to 9.8 percent. If Friday's jobs report reflects worse numbers than that, then mortgage rates might fall even more. If the employment report is healthier than expected, then mortgage rates could rise.

Today brings a trusted report on prices, namely the personal consumption expenditures report for May. The consensus is that prices grew by 0.1 percent in May. If inflation was worse than that -- well, the data are two months old, so I doubt the mortgage market would have a cow if the report reflects worse-than-expected inflation.

The PCE prices report comes out at 8:30 a.m. today, so by the time you read this, it probably has been released. However, I'm out of pocket (wife, broken leg; son, orthodontist), so it'll be a while before I can take a gander at it and comment.

Tuesday brings the Case-Shiller index of home prices. Seldom an uplifting read lately.

There are quite a few economic releases on Wednesday and Thursday, none of them very important as far as mortgage rates are concerned.

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1 Comment
Tim
June 29, 2010 at 11:16 am

Last week, virtually everyone you surveyed, and yourself, predicted an uptick in mortgage rates. They are plunging.

Economics is no more a science than religion.

Keep rollin' those dice, Holden. Gotta be right one of these passes.