Durable Goods Orders
Tomorrow has three pieces of economic data that may have an impact on mortgage pricing. March's Durable Goods Orders will be released at 8:30 AM ET that gives us an indication of manufacturing sector strength. This report tracks orders for big-ticket items at U.S. factories. These are products that are expected to last three or more years, such as appliances, electronics and airplanes. Current forecasts show a 1.5% increase in new orders, signaling growth in the manufacturing sector. Weaker manufacturing activity is favorable news for mortgage rates. It is worth noting that this data is known to be volatile from month to month, so a small variance from expectations won’t affect the markets like it would coming in many other reports.