MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

The last full week before the next Federal Open Market Committee meeting is on the light side after a deluge of data to usher in June.
  • Productivity will be released on Tuesday.
  • Thursday brings weekly Initial Jobless Claims.
  • Friday wraps up with the Consumer Sentiment Index.

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 experienced modest gains and losses recently, keeping home loan rates near historic lows.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday June 3, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

4 Rookie Mistakes Leaders Sometimes Make

Whether you are a team manager, sales rep or volunteer, there’s a part of your role that requires leadership. If you’re not careful (especially if you’ve never had leadership training) you can make mistakes that damage your credibility, cause your company or department to suffer, or cause you to lose your leadership responsibilities. Here are four management mishaps, and how to avoid them:

Making friends instead of managing. Leadership positions can be lonely, especially if you’re managing employees who used to be your coworkers. You don’t have to be unfriendly; however, you do need to be clear about performance expectations as well as boundaries.

Pretending to have all the answers, or not admitting when you’re wrong, can be devastating to morale. Great leaders don’t need to know everything or guess at answers, but they do need to know how to find answers. Spend time getting to know what those around you are capable of in terms of knowledge, expertise and resources. Then, leverage those capabilities to solve problems or complete a project.

Trying to control everything and everyone. Micromanagement can signal how little confidence you have in your own leadership ability and the abilities of those around you. Once you assess the skills and bandwidth of the people on your team, you can empower each person’s performance by clearly stating objectives and timelines, and giving the space to work through projects or problems. Let teams tell you how frequently they need you to check in and whether or not they need support.

Taking all the credit may bring kudos from colleagues and supervisors, but allowing the team to take the win is good form and good for your professional reputation and career in the long run.

People at work and on volunteer committees want to have a sense of contribution and accomplishment. Great leaders help to facilitate this, paving the way for further victories.

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

Sources: Inc., LinkedIn

Economic Calendar for the Week of June 6 – June 10

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. June 07
08:30
Productivity
Q1
NA
-1.0%
Moderate
Thu. June 09
08:30
Jobless Claims (Initial)
6/04
NA
267K
Moderate
Fri. June 10
10:00
Consumer Sentiment Index (UoM)
Jun
NA
94.7
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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