University of Michigan Consumer Sentiment (Prelim)
This week’s final economic release was the University of Michigan's Index of Consumer Sentiment for April at 10:00 AM ET. It came in at 86.5, up from March’s 84.9 but softer than the 88.0 that was expected. The readings show that consumer sentiment is stronger this month than last month, albeit not as strong as expected. That means consumers felt better about their own financial situations than they did last month and are likely to spend more. Because the reading came in lower than predicted, we can consider the data neutral for mortgage rates.