Leading Economic Indicators (LEI) from the Conference Board
Besides weekly unemployment figures, we will also get May's Leading Economic Indicators (LEI) tomorrow morning. The Conference Board, who is a New York-based business research group, produces this report. It attempts to predict economic activity over the next three to six months. Good news for mortgage rates would be a decline in this index, but it is expected to show a 0.1% increase from April's reading. This means it is predicting a modest increase in economic growth over the next several months. Since this report is not considered to be of high importance, I don't see it causing too much movement in rates regardless if it shows a particularly strong or weak reading.