Consumer Confidence Index (Conference Board)
The rest of the week brings us six more pieces of economic data for the markets to digest, including a couple of extremely important reports. The first of those remaining reports will come from the Conference Board, who will post their Consumer Confidence Index (CCI) for August at 10:00 AM ET tomorrow morning. This index measures consumer sentiment about their personal financial and employment situations, giving us a measurement of consumer willingness to spend. A decline in confidence would indicate that surveyed consumers probably will not make a large purchase in the immediate future. That would be a sign of economic weakness and should drive bond prices higher, leading to lower mortgage rates tomorrow. It is expected to show a reading of 97.0, which would be a small decline from July's 97.3. The lower the reading, the better the news for bonds and mortgage pricing.