Leading Economic Indicators (LEI) from the Conference Board
The holiday-shortened calendar kicked-off with the release of October’s Leading Economic Indicators (LEI) at 10:00 AM ET today. The Conference Board announced an increase of 1.2% in the indicators, meaning they are predicting economic growth over the next several months. That exceeded forecasts of a 0.8% rise, making the data bad news for mortgage rates. Fortunately, this report is not considered to be one of the more important releases we get each month, minimizing its impact on today’s trading.