MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

A variety of economic reports will be released the second half of the week; however, these will be overshadowed by the June 23 referendum on Britain’s participation in the European Union.
  • Housing news in the form of Existing Home Sales and New Home Sales will be released Wednesday and Thursday respectively.
  • Weekly Initial Jobless Claims will arrive Thursday as well.
  • Friday wraps up with the Consumer Sentiment Index and Durable Goods Orders.
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 busted through long-term resistance levels recently, keeping home loan rates near historic lows.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday June 17, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

The High Cost of Long Hours

Long hours may be costing you. Studies indicate a cascade of negative effects for people’s health and personal lives, as well as reduced productivity, from regularly working extended hours each week. These include:

  • Working more than 10 hours a day increases risk of cardiovascular issues by 60 percent.
  • 10 percent of those working 50 to 60 hours per week report relationship problems; this jumps to 30 percent for those working 60+ hours.
  • Productive work declines after 50 hours per week.
While crunch times happen to everyone, if you find 50, 60 or more hours becoming your average workweek, try implementing these productivity ideas:

Don’t “just do it.” Plan it, instead. The path to greater productivity and shorter hours is paved by planning. Spend 10 to 15 minutes at the start of your workday (or the end of the day before) to schedule time for essential items on your to-do list.

Do routine check-ins. Set an alarm each hour and take a moment to look at your to-do list and calendar. If you’re not on track, this brief moment of focus will help you recalibrate and, if need be, reprioritize the items on your to-do list. Also schedule time to get up and walk around each hour. Physically you’ll feel better and it will help clear your head to refocus.

Focus on the journey, not the finish line. Instead of feeling pressured to finish projects, focus on starting them or moving them to the next step. For example, don’t plow through your quarterly report to complete it quickly. Instead, make an outline. Then, tackle sections a few at a time. Plan your sales call, rehearse it a few times, take a breather and then call. You can reduce feeling overwhelmed by breaking work into manageable chunks that provide a sense of accomplishment.

Working smarter, not harder, is easier said than done. If you’re feeling overworked and overwhelmed and you want to protect your health, home life and productivity, these simple tips can help you work less and accomplish more.
Please feel free to pass these helpful tips along to your team, clients and colleagues.
Sources: Inc., The Wharton School

Economic Calendar for the Week of June 20 – June 24

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Wed. June 22
10:00
Existing Home Sales
May
NA
5.45M
Moderate
Thu. June 23
08:30
Jobless Claims (Initial)
6/18
NA
277K
Moderate
Thu. June 23
10:00
New Home Sales
May
NA
619K
Moderate
Fri. June 24
08:30
Durable Goods Orders
May
NA
3.4%
Moderate
Fri. June 24
10:00
Consumer Sentiment Index (UoM)
Jun
NA
94.3
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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