MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Manufacturing and employment data fill the week and will be closely watched as the Fed gears up for its September Federal Open Market Committee Meeting.
  • Key manufacturing data starts with the Chicago PMI on Monday followed by the ISM Index on Tuesday.
  • The ADP National Employment report, second quarter Productivity and the Fed’s Beige Book will be delivered on Wednesday.
  • Thursday brings weekly Initial Jobless Claims along with the ISM Services Index.
  • On Friday, everyone will tune in for the monthly Jobs Report, which features Non-farm Payrolls and the Unemployment Rate.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, 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 are 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 Bond prices soared to heights not seen since May. Home loan rates remain near historic lows.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday August 28, 2015)

Japanese Candlestick Chart

The Mortgage Market Guide View…
4 Strategies to Make Yourself Invaluable
Being invaluable to clients, referral partners and your overall organization is a key factor in maintaining a solid reputation, stable business and career longevity. Here are four strategies to become and remain a reliable asset to the people you already work with—as well as those with whom you want to work:
  1. Aim to understand everything. People who know just enough to do their jobs limit themselves and the value they offer others. Understanding an entire business process, even those parts you will never perform yourself, helps develop keen insights to drive outcomes and envision solutions that produce wins for everyone involved.
  2. Set the standard. Inspire others with your actions: arrive on time, meet deadlines, keep your word, communicate clearly, be solutions driven, stay positive and avoid complaining or gossip.
  3. Seek solutions, always. Things go wrong. And when they do, invaluable people don’t throw in the towel or wallow in excuses. If your Plan A doesn’t work, take on the problem from another angle, ask as many questions as it takes to solve it, or enlist the help of an experienced ally.
  4. Own up to good and bad outcomes. Accountability demonstrates self-awareness and personal responsibility. If you make a misstep, admit to it quickly without making excuses. Offer solutions or suggestions to correct errors and ensure similar mistakes do not occur again.
As always, feel free to pass these helpful tips along to your team, clients and colleagues.
Source: Inc.com

Economic Calendar for the Week of August 31 – September 04

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. August 31
09:45
Chicago PMI
Aug
NA
54.7
Moderate
Tue. September 01
10:00
ISM Index
Aug
NA
52.7
HIGH
Wed. September 02
08:15
ADP National Employment Report
Aug
NA
185K
HIGH
Wed. September 02
08:30
Productivity
Q2
NA
1.3%
Moderate
Wed. September 02
02:00
Beige Book
Sep
NA
NA
Moderate
Thu. September 03
08:30
Jobless Claims (Initial)
8/29
NA
NA
Moderate
Thu. September 03
10:00
ISM Services Index
Aug
NA
60.3
Moderate
Fri. September 04
08:30
Non-farm Payrolls
Aug
NA
215K
HIGH
Fri. September 04
08:30
Unemployment Rate
Aug
NA
5.3%
HIGH
Fri. September 04
08:30
Hourly Earnings
Aug
NA
0.2%
HIGH
Fri. September 04
08:30
Average Work Week
Aug
NA
34.6
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. 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.

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