MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Housing news will be front and center throughout the week.
  • Housing news kicks off with the National Association of Home Builders Housing Market Index on Monday.
  • Housing Starts and Building Permits will be released on Tuesday, while Existing Home Sales follows on Thursday.
  • Also on Thursday, look for weekly Initial Jobless Claims and manufacturing news via thePhiladelphia Fed 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 have moved a bit lower in recent days. Home loan rates remain near all-time lows.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday July 15, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Get That Email Reply!

According to tech market research firm the Radicati Group, an average of 205 billion emails were sent every single day in 2015. This volume of email can be overwhelming, lowering the likelihood that people will reply. Here are three easy tips to increase your chances of receiving an email response:

Keep it short. Shakespeare wisely noted that brevity is the soul of wit. It is also a key ingredient for emails that people respond to. According to email productivity company Boomerang, between 50-125 words is best. If you can’t be that brief, make your email appear less dense by separating each sentence into a single paragraph.

Keep it simple. Boomerang also says a third-grade reading level gathers the best response rate (53 percent) compared to emails written with college level grammar (39 percent). Consider performing a readability check before you hit “send.”

Keep it specific. Request the kind of action you want the person to take in the beginning of the email or, if possible, in the subject line.

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

Sources: Radicati Group, Boomerang, Yesware

Economic Calendar for the Week of July 18 – July 22

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. July 18
10:00
Housing Market Index
Jul
NA
60
Moderate
Tue. July 19
08:30
Building Permits
Jun
NA
1138K
Moderate
Tue. July 19
08:30
Housing Starts
Jun
NA
1164K
Moderate
Thu. July 21
08:30
Jobless Claims (Initial)
7/16
NA
NA
Moderate
Thu. July 21
10:00
Philadelphia Fed Index
Jul
NA
4.7
HIGH
Thu. July 21
10:00
Existing Home Sales
Jun
NA
5.53M
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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