Consumer Confidence Index (Conference Board)
September's Consumer Confidence Index (CCI) is also coming late tomorrow morning. This Conference Board index will give us a measurement of consumer willingness to spend. It is expected to show a decline in confidence from last month's reading, indicating that consumers were less optimistic about their own financial situations than last month. This means they are less likely to make a large purchase in the near future. That is favorable news for the bond market and mortgage rates because consumer spending fuels economic growth. Analysts are calling for a reading of approximately 119.4, down from August's 122.9 reading. The smaller the reading, the better the news for the bond market and mortgage rates.