MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

After weaker-than-expected housing data in the past month, the sector will be watched for signs of a pickup. Consumer inflation will be too.
  • Manufacturing data from the Empire State Index and the Philadelphia Fed Index will be reported on Monday and Thursday, respectively.
  • In the housing sector, look for the NAHB Housing Market Index on Tuesday, Housing Starts and Building Permits on Wednesday, and Existing Home Sales on Thursday.
  • The Consumer Price Index will be reported on Tuesday.
  • The Fed’s Beige Book will be released on Wednesday.
  • As usual, weekly Initial Jobless Claims will be reported on Thursday, as initial claims have been at 43-year lows.

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, although Mortgage Bonds declined in recent weeks they managed to stabilize, keeping home loan rates in historically low territory.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday October 14, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Expert Status in Record Time

New business is inevitable for industry experts. Here are four ways to earn expert status in your field and win more business.

Be a guest blogger. Online publications are always hungry for content. Find publications in your niche and start offering your services as a guest blogger. When you give away your best secrets for free, people will wonder what other magic you’ve got up your sleeve.

Publish an e-book. While you could write a full-length book, it’s not absolutely necessary to go through the hassle of publishing. E-books are popular and easy to produce with free online templates for Microsoft Word. Whether the length is a few pages or long-form content, both give you traction if the content is helpful and meaningful to your audience. You can promote it on your social media channels, website and in your email signature.

Make an appearance. Local television, radio and newspapers are also hungry for content. Offer your expertise based on trends in your specific market. If they like you, you could become a regular. Make sure to get snippets of the audio and video that features you, so you can re-promote on your social media pages and website.

Speak up. Speaking opportunities are everywhere, from community education courses to civic and professional organizations to local events. Focus on those teaching opportunities, organizations or events where you’re likely to find either your ideal clients or people who can connect you to your ideal clients.

Remember, whenever you produce original content, you should link to it everywhere you have a presence: your website, social media pages, email signature, and referral partner email lists. Make your content known. When you do, you’ll have expert status fast!

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

Source: American Express OPEN Forum

Economic Calendar for the Week of October 17 – October 21

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. October 17
08:30
Empire State Index
Oct
NA
-2.0
Moderate
Tue. October 18
08:30
Consumer Price Index (CPI)
Sep
NA
0.2%
HIGH
Tue. October 18
08:30
Core Consumer Price Index (CPI)
Sep
NA
0.3%
HIGH
Tue. October 18
10:00
Housing Market Index
Oct
NA
65
Moderate
Wed. October 19
08:30
Building Permits
Sep
NA
1139K
Moderate
Wed. October 19
08:30
Housing Starts
Sep
NA
1142K
Moderate
Wed. October 19
02:00
Beige Book
Oct
NA
NA
Moderate
Thu. October 20
08:30
Jobless Claims (Initial)
10/15
NA
246K
Moderate
Thu. October 20
08:30
Philadelphia Fed Index
Oct
NA
12.8
HIGH
Thu. October 20
10:00
Existing Home Sales
Sep
NA
5.33M
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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