Stocks are higher this morning on no real news. Bonds and MBS are up.
The week ahead won’t have much in the way of market-moving economic data. We will have new home sales and a bunch of second-tier economic news like durable goods and consumer sentiment. We will also have a lot of Fed speakers. Earnings wise, we get homebuilder KB Home on Tuesday.
The Index of Leading Economic Indicators fell in August according to the Conference Board. The index ticked down marginally by 0.1%. Market-based indicators like stock market returns and interest rates were the positive contributors while economic ones pulled it back.
“The US LEI receded slightly in August, the first monthly decline since March of this year,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. “Four out of ten components fell compared to the previous month, with consumer expectations remaining a significant strain on the Index. Building permits also declined on a monthly basis, with decreases in both single- and multi-unit categories and across nearly all regions. The West was the only exception, recording a small increase in total permits. Due to the latest decline, the LEI’s six-month growth rate turned back to slightly negative, suggesting a less certain economic environment ahead. The economy is still expanding, but growth is expected to slow. The Conference Board forecasts real GDP to increase at a 1.9% rate in 2026, with our outlook for 2027 downwardly revised from 1.9% to 1.8%.”
It is surprising to see a tepid LEI while the Atlanta Fed GDP Now model is predicting 5.1% growth for Q3.
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Independent mortgage bankers operate in a market where every basis point matters. Improving efficiency, maintaining reliable access to liquidity and achieving strong execution in loan sales can make the right financial relationships more valuable than ever.
Western Alliance Bank’s Specialized Mortgage Services Group and AmeriHome Correspondent will attend MBA’s Annual Convention and Expo 2026 in Chicago, October 11-14, to connect with mortgage professionals about building a more complete banking and correspondent relationship.
Together, the teams offer a broad range of solutions designed around the needs of independent mortgage bankers. Western Alliance provides customized mortgage warehouse lending, MSR financing, note financing and treasury management solutions, supported by experienced mortgage bankers and responsive decision-making. You’ll also find a whole loan trading desk focused on purchasing scratch-and-dent loans (send bid requests to SnD@westernalliancebank.com). AmeriHome, the nation’s largest bank-owned correspondent investor,* offers a full suite of Agency, Government and Portfolio Non-Agency products through delegated and non-delegated channels.
The connections between the two teams can deliver additional efficiencies, including preferred warehouse terms for loans sold to AmeriHome, while providing mortgage companies with access to financing, liquidity, treasury capabilities and correspondent execution through closely aligned relationships.
Attending MBA Annual? Contact the Specialized Mortgage Services team at Western Alliance Bank, Member FDIC, or the AmeriHome Correspondent team to schedule time to meet in Chicago.
* According to Inside Mortgage Finance, 6/5/2026.
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Industrial production was unchanged in August according to the Federal Reserve. Manufacturing production fell 0.3%. Capacity Utilization was flat at 76.3%.
