Oregon Mortgages

ISM Index report due Tuesday

Just to give a quick update. last week they posted the report for CCI or the consumer confidence index and I just wanted to give everyone a quick update in regards to this. There wasn’t really any great market impact based on the report and rates stayed relatively flat which is better than them rising!

Another report will be out this week posted by the Institute for Supply Management (ISM) index and it will be the manufacturing report for July which can affect mortgage rates. A reading above 50.0 means that more surveyed executives felt that business improved than those who said it had worsened. This weeks release is expected to show a reading of 56.5, which is slightly down from June’s report of 57.0. This could have a positive affect on the Mortgage Industry as we could see rates fall slightly. The report comes out Tuesday morning and I’ll try to get a quick summary up after I get a chance to see what it has to say.