A look at some of the key business events and economic indicators upcoming this week:
The Federal Reserve on Tuesday will release its consumer credit data for the month of November.
Consumer borrowing is closely tracked for signs of consumers’ willingness to take on more debt to finance their purchases. The Fed’s consumer borrowing report does not cover home mortgages or other types of debt secured by real estate such as home equity loans.
Borrowing has been on an upward trend for some time. Here’s a look at its gains each month based on seasonally adjusted data:
October: 7.7 per cent
September: 3.5 per cent
August: 7.1 per cent
July: 5.4 per cent
June: 1.7 per cent
May: 6.8 per cent
Source: Federal Reserve reports
Beer, wine and spirits maker Constellation Brands reports its earnings on Wednesday. The Victor, New York-based company is one of the world’s largest beverage companies. Its brands include Corona beer, Robert Mondavi wines and Svedka vodka. The company also recently made a foray into marijuana with a $4 billion investment in Canopy Growth Corp., a cannabis company based in Canada.
Additionally, it announced in October that its chief executive officer Rob Sands will step down later this year and hand over the reins to its current president Bill Newlands.
Constellation has been experiencing significant gains of late. Here’s a look at its sales for the past six quarters:
Freddie Mac, the mortgage company, on Thursday releases weekly mortgage rates.
Mortgage rates began to spike after President Donald Trump signed broad tax cuts, financed by government deficits, into law in December 2017. But rates have eased in recent weeks amid steep declines in the stock market and a drop in the yield on the 10-year Treasury note, which influences long-term mortgage rates.
The decline in mortgage rates could help boost home sales, which have stumbled last year as higher borrowing costs have eroded affordability.
Here’s a look at the average rate on a 30-year fixed-rate mortgage for the past six weeks:
Jan. 3: 4.51
Dec. 27: 4.55
Dec. 21: 3.99
Dec. 14: 3.94
Dec. 7: 3.93
Nov. 30: 3.94