MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Look for key housing reports, plus an important update on U.S. economic growth.

  • Housing numbers kick off the week with Existing Home Sales for August on Monday. New Home Sales for August follow on Wednesday.
  • As usual, Weekly Initial Jobless Claims will be released on Thursday, along with Durable Goods Orders.
  • The big news of the week comes Friday with the final reading on Q2 Gross Domestic Product. The Consumer Sentiment Index will also be released on Friday.

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 were able to stabilize in recent days. Home loan rates remain near historical lows and I’ll continue to monitor them closely.

Chart: Fannie Mae 4.0% Mortgage Bond (Friday September 19, 2014)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Make Every Meeting Minute Count

In business, time is money. Whether meeting one-on-one with clients or with a team, follow these tips to stay on task and make the minutes count.

Define an objective. Your objective is your reason for getting together. If you don’t have an objective, don’t meet. Objectives might include brainstorming, presenting options, developing plans, providing status updates, or finalizing a decision.

Distribute an agenda in advance. Include date, time and location of the meeting (or call-in and log-in information, if applicable). Specify the meeting objective(s). Clearly state who is responsible for leading a topic, as well as any work to prepare for the meeting.

Begin and end on time. Be respectful of everyone’s time and stick to the schedule. Make sure you factor in ample travel time to and from meetings (whether across town or across the office). If one meeting ends right before another begins, your schedule may get thrown off track.

Stay focused on the discussion at hand. Good discussions often yield more good ideas and questions; however, these can quickly derail a meeting. Keep a separate document handy to jot down future agenda topics, so you stay focused on the meeting at hand.

Define next steps. Assign individuals to specific tasks, define deliverables, and set timelines for completion.

Summarize. To help ensure all meeting attendees are clear about meeting outcomes, summarize the key points and next steps.

Distribute meeting minutes. Meeting minutes serve as a historical record, as well as a summary for those who were unable to attend. Minutes include date, time, list of attendees, key points, decisions and next steps. Distribute minutes within 48 hours of a meeting. For one-on-one client meetings, a follow-up email serves as meeting minutes.

Following these tips will help ensure time being spent is worthwhile for all involved. As always, please feel free to pass these tips along to your team, colleagues and clients!

Sources: BusinessProductivity.com, MindTools.com

Economic Calendar for the Week of September 22 – September 26

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. September 22
10:00
Existing Home Sales
Aug
5.2M
5.15M
Moderate
Wed. September 24
10:00
New Home Sales
Aug
435K
412K
Moderate
Thu. September 25
08:30
Jobless Claims (Initial)
9/20
300K
280K
Moderate
Thu. September 25
08:30
Durable Goods Orders
Aug
-16.3%
22.6%
Moderate
Fri. September 26
08:30
Gross Domestic Product (GDP)
Q2
4.6%
4.2%
Moderate
Fri. September 26
08:30
GDP Chain Deflator
Q2
2.1%
2.1%
Moderate
Fri. September 26
10:00
Consumer Sentiment Index (UoM)
Sept
85.0
84.6
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.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.

Equal Housing Lender

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