MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

It’s a quiet week in U.S. economic data releases. Investors and traders will take their cues from other global headline news.
  • Weekly Initial Jobless Claims will be released Thursday, as usual.
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. When Bond prices 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 moved in a sideways pattern in recent weeks, keeping home loan rates in attractive territory.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday March 4, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

4 Fixes for Sales Slumps

Every business has its cycles. Whether you have a seasonal business and know a lull is coming or a slow month has taken you by surprise, here are four things you can do to proactively and productively make the most of slow times.

Add additional services or products. Your primary product or service isn’t the only asset your business has. Service businesses have “knowledge assets” to offer newcomers or customers via site visits or training camps. Building owners can rent space for events. And, almost anyone with specialized information can be a paid speaker or consultant. All of these activities showcase your expertise and introduce you to potential new clients and partners.

Implement a Contact Management System. Make sure you know who your customers are, where they come from, and what motivates them. Take time to collect, input and manage a customer database. While the initial setup can seem daunting, routine data collection gets easier, and the rewards pay off because you can focus your energy on prospects with real potential.

Ramp up marketing. Your slow season is the perfect time to create a marketing schedule and concentrate on effective campaigns. Stay in touch with customers by sending helpful ideas and resources on a regular basis. Then, when clients are ready to do business, they’ll remember your name.

Host an event. Partnering with local businesses, arts organizations or charitable groups can bring name recognition and foot traffic. Events are great to give out samples, demo services or share knowledge.

With a little extra effort, you can transform a sales slump into a business boon!

Please feel free to pass these helpful tips along to your team, clients and colleagues.

Source: American Express OPEN Forum

Economic Calendar for the Week of March 07 – March 11

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Thu. March 10
08:30
Jobless Claims (Initial)
3/05
NA
NA
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.

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