MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

While the week’s releases include consumer inflation, manufacturing and housing data, investors will be awaiting the Fed’s release of its Monetary Policy Statement on Wednesday at 2 p.m. EST.
  • Consumer inflation, manufacturing and housing data will be released Tuesday in the form of the Consumer Price Index, Empire State Index and Housing Market Index.
  • More housing data will be reported on Wednesday with Building Permits and Housing Starts.
  • Finally, the Philadelphia Fed Index manufacturing data will be released Thursday, along with weekly Initial Jobless Claims.
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 Bonds have seesawed a bit lately due to economic headlines leading into the FOMC meeting.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday December 11, 2015)

Japanese Candlestick Chart

The Mortgage Market Guide View…

4 Pointers for Dealing With Difficult Clients

Some clients are more difficult than others. Here are four of the most common types you will meet, and tips for setting expectations without losing your cool—or their business:

After-hours urgency. You just received four voicemails from a client … at 8 p.m. The needs are not urgent, but you want to be responsive. How do you let the client know you are accessible without setting a precedent that infringes on your personal time? If it’s a new client, call back and field the questions. Then, let him know when you are typically available by phone, or when you normally check and respond to voicemails, texts and emails. As a good business practice, let all clients and partners know your availability and response times, so expectations are clear.

Nitpicking. Sometimes nitpickers can improve processes and routine communication with new insights. But nitpickers also can slow you down by stalling or derailing a process. Clearly articulate processes, timelines and deliverables with all clients. Also set limitations on the number of changes or alterations you’re willing to make on a project before additional charges ensue and timelines are pushed back.

Ongoing delays. People delay for any number of reasons. Some like to gather more (and more) information to feel they are fully informed about a decision they are about to make. Others like to analyze (and overanalyze) a situation. Some simply like to “sleep on it” to process information. Gently remind clients when time is of the essence and how delays could cost them.

Penny pinching. A client who seems more focused on cutting costs than getting value from your work may have a hidden issue, like a cash-flow problem. Clearly outline services and associated fees with all clients from the get-go. If you have a penny pincher, see if you can identify reasons for the concerns. Perhaps you can work out alternative billing arrangements or modify services if it’s a win-win for you both.

The bottom line is to stay positive and be clear about what clients can expect throughout all stages of working with you. In many cases, the next job clients hire you to do will go smoother with clear expectations on both sides. Ultimately, though, remember it’s okay to part ways with a client who continues to be disrespectful of your time and regularly pulls you away from serving other clients.

Feel free to pass these pointers along to your team, clients and colleagues.

Source: Entrepreneur

Economic Calendar for the Week of December 14 – December 18

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. December 15
08:30
Core Consumer Price Index (CPI)
Nov
NA
0.2%
HIGH
Tue. December 15
08:30
Consumer Price Index (CPI)
Nov
NA
0.2%
HIGH
Tue. December 15
08:30
Empire State Index
Dec
NA
-10.7
Moderate
Tue. December 15
10:00
Housing Market Index
Dec
NA
62
Moderate
Wed. December 16
08:30
Building Permits
Nov
NA
1150K
Moderate
Wed. December 16
08:30
Housing Starts
Nov
NA
1060K
Moderate
Wed. December 16
02:00
FOMC Meeting
Dec
NA
0.25%
HIGH
Thu. December 17
08:30
Jobless Claims (Initial)
12/12
NA
282K
Moderate
Thu. December 17
10:00
Philadelphia Fed Index
Dec
NA
1.9
HI

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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