MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

Forecast for the Week 

Manufacturing and housing news dominate the economic report calendar this week.

  • Manufacturing data from the New York State Index and the Philadelphia Fed Index will be released on Monday and Thursday, respectively.
  • Housing Starts, Building Permits and Existing Home Sales will all be released on Wednesday.
  • Thursday also brings the usual Weekly Initial Jobless Claims data.

In addition to these reports, all eyes will be watching to see how the markets and home loan rates respond to QE3.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond that home loan rates are based on.

When you see these Bond prices moving higher, it means home loan rates are improving — and when they are moving lower, home loan rates are getting worse.

To go one step further — a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Bonds and home loan rates reacted favorably to the Fed’s announcement of QE3. I’ll be watching closely to see how the markets respond this week.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday Sep 14, 2012)
Japanese Candlestick Chart

The Mortgage Market Guide View… 

Webcam Tips for Business

Webcams have steadily grown in popularity in businesses across the country. More and more companies are embracing the technology as a cost-effective, timesaving way to record videos for a company website or to conduct meetings.

Regardless of how you’re using a webcam in your career, the following information can help you be more successful.

1. Eliminate distractions. When you’re on a webcam, you can be interrupted by the phone ringing, people knocking on your door, and so on. To make sure that doesn’t happen, find a quiet place where you can avoid any distractions.

2. Remove the clutter. A webcam doesn’t just allow people to see you; they can also see into your office. If the background setting looks messy, cluttered, or less than professional, it may taint how you are perceived. So, clean up everything that will be in the background, including those things that are off in the distance. The best advice is to have a clean, simple background setting where only one or two major pieces of office furniture can be seen.

3. Check the lighting. Anyone who’s ever used a webcam realizes that you can sometimes appear pale or tired in an online video. To overcome this problem, you can simply check the lighting. You’ll want the room to be bright, but not so bright that your face is washed out. If you need additional lighting, bring a lamp or two into the room.

4. Maintain eye contact. To make sure you maintain eye contact, look directly at your webcam – rather than another person’s image or a script on your monitor. It may feel awkward at first, but it will appear natural and professional to the person on the other end.

5. Send the right body language. Like in face-to-face communication, your posture and body language are important online. So sit up straight, use simple hand gestures as you talk, and resist the urge to fidget or make a lot of unnecessary movements (like scratching your head or constantly readjusting your seating position).

Following those simple steps can help you be more successful the next time you find yourself sitting across from a webcam at your office.

Economic Calendar for the Week of September 17 – September 21

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. September 17
08:30
Empire State Index
Sept
NA
-5.9
HIGH
Wed. September 19
08:30
Building Permits
Aug
NA
812K
Moderate
Wed. September 19
08:30
Housing Starts
Aug
NA
746K
Moderate
Wed. September 19
10:00
Existing Home Sales
Aug
NA
4.47M
Moderate
Thu. September 20
08:30
Jobless Claims (Initial)
9/15
NA
382K
Moderate
Thu. September 20
10:00
Philadelphia Fed Index
Sept
NA
-7.1
HIGH
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Market Guide, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.
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