MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

The August Jobs Report should attract the most attention at the end of this data-packed week.
  • Personal Income, Personal Spending and the inflation-reading Personal Consumption Expenditures will be released on Monday.
  • Housing numbers will be seen in Tuesday’s S&P/Case-Shiller Home Price Index and Wednesday’s Pending Home Sales.
  • Consumer Confidence will also be reported on Tuesday.
  • Look for manufacturing data from the Chicago PMI on Wednesday and the ISM Index on Thursday.
  • Also on Wednesday, the first of two key labor market reports will be delivered via the ADP National Employment Report.
  • As usual, weekly Initial Jobless Claims will be reported on Thursday.
  • The second reading from second quarter Productivity will also be released on Thursday.
  • Ending the week, the August Jobs Report comes out on Friday, which includes Non-farm Payrolls, Hourly Earnings and the Unemployment Rate.

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 continued to trade in a tight pattern. Home loan rates remain in historically low territory.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday August 26, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Hate Networking? Try These Instead.

Not everyone thrives on networking events. For some people, these events can feel downright awkward. Here are a few alternatives to traditional networking that can still help you make meaningful, business-building connections:

Meetup.com allows you to organize or join groups and clubs for just about any profession, hobby or social interest. Meetup helps organize event calendars, discussion threads and more. Some groups may charge a member or “chip in” fee. The best part is that if you can’t find a Meetup you’re interested in, it’s easy to gather some people and organize your own . Meetup organizer pricing starts at $9.99 per month for a group of 4 leaders and up to 50 members.

VolunteerMatch.org can help you find a cause or non-profit you care about, and introduce you to other likeminded people. Once you’ve established your reputation with an organization, set your sights on joining the board to network with other board members.

Workshops, civic clubs, alumni connections or other small groups are perfect environments for developing relationships. While a common topic may bring you together, new business connections will be only one of many organic results.

LinkedIn Groups provide a way to leverage social networking and build your reputation as a thought leader. Spend some time getting to know the best ways to contribute to conversations by joining existing discussions or posing timely, thought-provoking questions to your professional group, and then jump in.

Ask for introductions. Let friends, family and colleagues know you are looking to meet people in a specific profession or with a certain skill set. Then ask for introductions via email, social media or in person.

To make meaningful business connections, you don’t have to throw yourself into a mix-and-mingle event. Give the above options a try.

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

Sources: Entrepreneur, Idealist Careers

Economic Calendar for the Week of August 29 – September 02

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. August 29
08:30
Personal Income
Jul
NA
0.2%
Moderate
Mon. August 29
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
1.6%
HIGH
Mon. August 29
08:30
Personal Consumption Expenditures and Core PCE
Jul
NA
0.1%
HIGH
Mon. August 29
08:30
Personal Spending
Jul
NA
0.4%
Moderate
Tue. August 30
09:00
S&P/Case-Shiller Home Price Index
Jun
NA
5.2%
Moderate
Tue. August 30
10:00
Consumer Confidence
Aug
NA
97.3
Moderate
Wed. August 31
08:15
ADP National Employment Report
Aug
NA
179K
HIGH
Wed. August 31
09:45
Chicago PMI
Aug
NA
55.8
HIGH
Wed. August 31
10:00
Pending Home Sales
Jul
NA
0.2%
Moderate
Thu. September 01
08:30
Productivity
Q2
NA
-0.5%
Moderate
Thu. September 01
08:30
Jobless Claims (Initial)
8/27
NA
261K
Moderate
Thu. September 01
10:00
ISM Index
Aug
NA
52.6
HIGH
Fri. September 02
08:30
Non-farm Payrolls
Aug
NA
255K
HIGH
Fri. September 02
08:30
Unemployment Rate
Aug
NA
4.9%
HIGH
Fri. September 02
08:30
Hourly Earnings
Aug
NA
0.3%
HIGH
Fri. September 02
08:30
Average Work Week
Aug
NA
34.5
HIGH

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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