MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

After a back-to-school shopping season that didn’t make the grade in August, many hope Retail Sales rebounded in September. Markets will be closed on Monday for Columbus Day.
  • The minutes from September’s Federal Open Market Committee meeting will be released Wednesday afternoon.
  • As usual, weekly Initial Jobless Claims will be reported on Thursday.
  • On Friday, Retail Sales, the Producer Price Index and the Consumer Sentiment Index will be released.
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 declined in recent weeks. However, home loan rates continue to hover in historic territory.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday October 07, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

The Etiquette of Fundraising

Follow our advice to give generously, or fund-raise for a cause dear to you, without stretching anyone’s limits.
By Miriam Cross, Kiplinger.com

Lending your financial support to worthy causes feels good — until you feel sapped by frequent requests. Learn how to decline a request or solicit donations from others without overstepping boundaries, and give money in a way that’s meaningful.

My friend asked me to contribute to a film project he is crowdfunding, but I would rather choose my own causes. How do I turn him down?
Soften your “no” by complimenting his project and thanking him for approaching you, says Jacqueline Whitmore, founder of the Protocol School of Palm Beach. The only explanation you need to offer is “I’m supporting other causes right now.” But before refusing outright, think about other ways you can help out besides financially. For example, could you lend him your home for a fund-raising event, as long as he sets up and provides the refreshments?

Refrain from (outwardly) judging a cause that seems frivolous to you or inappropriate for crowdfunding, such as a blowout vacation or the family cat’s dental surgery.

How can I best ask family and friends for donations to a charity I’m passionate about?
For starters, avoid hitting up people directly more than once a year. Also, be sensitive about whom you ask (give a pass to the cousin who is out of work).

How you ask matters, too. For instance, if you’re looking for, or expecting, only small contributions, perhaps for a charity race in which you’re participating, it is fine to send a blanket e-mail or to post a request on social media. If you’re soliciting larger sums, send a personal e-mail making your case for the charity and conclude with something like “It would be great to include you in the group of supporters. If that doesn’t work for you this time, I understand,” says Mary M. Mitchell, author of several etiquette books. Some close friends might consider an e-mail request too impersonal, in which case you could approach them in person while giving them the same opening to decline.

However you make your request, be sure to thank those who donated with a letter, e-mail or phone call. And once you start asking people for their financial support, be prepared to reciprocate, says Mitchell.

What is the most meaningful way to make a donation in someone’s name?
Donating in someone’s memory is usually as simple as writing a check to the charity named in the obituary. But if you’d like to give money in the name of a living person — say, to celebrate a special anniversary or birthday — identify a cause he or she supports. For instance, find out if your honoree volunteers, say, as a museum docent, or contributes to a particular group. Once you’ve made the donation, send your friend a handwritten card celebrating the occasion and mentioning your gift.

Keep in mind there are some occasions (such as a wedding) that call for an actual gift, unless otherwise specified.

Reprinted with permission. All Contents © 2016 The Kiplinger Washington Editors. Kiplinger.com.

Economic Calendar for the Week of October 10 – October 14

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Wed. October 12
02:00
FOMC Minutes
Sep 21
NA
NA
HIGH
Thu. October 13
08:30
Jobless Claims (Initial)
10/08
NA
249K
Moderate
Fri. October 14
08:30
Producer Price Index (PPI)
Sep
NA
0.0%
Moderate
Fri. October 14
08:30
Core Producer Price Index (PPI)
Sep
NA
0.1%
Moderate
Fri. October 14
08:30
Retail Sales
Sep
NA
-0.3%
HIGH
Fri. October 14
08:30
Retail Sales ex-auto
Sep
NA
-0.1%
HIGH
Fri. October 14
10:00
Consumer Sentiment Index (UoM)
Oct
NA
91.2
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.

Equal_Housing_Opportunity

Tell me what you think

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s