MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

A busy week is ahead, with key reports on housing, inflation, consumer confidence and the state of the U.S. economy.

  • Housing data is plentiful this week, beginning with Existing Home Sales on Monday. Look for the S&P/Case-Shiller Home Price Index and New Home Sales on Tuesday.
  • Also on Tuesday, we’ll get a read on how consumers are feeling with Consumer Confidence for June. The Consumer Sentiment Index will be released on Friday.
  • On Wednesday, the final reading for first quarter Gross Domestic Product will be closely watched. Also look for Durable Goods, which measure orders for products that last an extended period of time.
  • Weekly Initial Jobless Claims will be announced on Thursday, along with Personal Income, Personal Spending, and Personal Consumption Expenditures, a key inflation measure.

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 on which home loan rates are based.

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, Mortgage Bonds have been holding steady in a sideways pattern. Home loan rates remain near historic lows and I’ll continue to monitor them closely.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday June 20, 2014)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Inspire Clients and Colleagues With Better Business Storytelling

Telling a good story isn’t always easy. But learning to tell a good story is imperative for leadership, improved communication skills and succeeding in business today.

In fact, Daniel Goleman sheds some light on this in the opening paragraph of his book, Primal Leadership. Goleman writes, “Great leaders move us. They ignite our passion and inspire the best in us.”

Speaker, agent for social change, catalyst and author Kevin Carroll says that one of the main ways leaders move us is through their ability to tell stories. As he explains it, leaders must communicate a variety of information to people, but the best leaders have learned to attach meaning to the information they communicate, so their listeners become invested and motivated by what’s said.

The bottom line: Storytelling helps great leaders reach people, inspire people and galvanize people around an idea so that the idea becomes a reality.

Need some storytelling help? Turn to the pros: Pixar’s 22 Rules of Phenomenal Storytelling are listed right here on a handy, easy to read infographic.

As always, feel free to pass these tips along to your team and colleagues to help them improve their storytelling and communication skills!

Economic Calendar for the Week of June 23 – June 27

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. June 23
10:00
Existing Home Sales
May
NA
4.65M
Moderate
Tue. June 24
09:00
S&P/Case-Shiller Home Price Index
Apr
NA
12.4%
Moderate
Tue. June 24
10:00
New Home Sales
May
NA
433K
Moderate
Tue. June 24
10:00
Consumer Confidence
Jun
NA
83.0
Moderate
Wed. June 25
08:30
Gross Domestic Product (GDP)
Q1
NA
-1.0%
Moderate
Wed. June 25
08:30
GDP Chain Deflator
Q1
NA
1.3%
Moderate
Wed. June 25
08:30
Durable Goods Orders
May
NA
0.6%
Moderate
Thu. June 26
08:30
Jobless Claims (Initial)
6/21
NA
312K
Moderate
Thu. June 26
08:30
Personal Income
May
NA
0.3%
Moderate
Thu. June 26
08:30
Personal Spending
May
NA
-0.1%
Moderate
Thu. June 26
08:30
Personal Consumption Expenditures and Core PCE
May
NA
0.2%
HIGH
Thu. June 26
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
1.4%
HIGH
Fri. June 27
10:00
Consumer Sentiment Index (UoM)
Jun
NA
81.2
Moderate

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.

Equal Housing Lender

Tell me what you think

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s