MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Inflation, housing and manufacturing reports will stand out in this data-rich week as the Fed gears up for its Federal Open Market Committee meeting in December.
  • The Retail Sales report kicks off the week on Tuesday.
  • Regional manufacturing data comes from the Empire State Index and the Philadelphia Fed Index on Tuesday and Thursday, respectively.
  • Inflation metrics will be shared in the Producer Price Index on Wednesday and the Consumer Price Index on Thursday.
  • Housing market data is plentiful starting with Wednesday’s release of the NAHB Housing Market Index followed by Housing Starts and Building Permits on Thursday.
  • As usual, weekly Initial Jobless Claims will be delivered on Thursday.

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 took a dive recently following the presidential election. Bond markets were closed Friday, November 11 in observance of Veterans Day.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday November 11 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Saying ‘No’ in a Positive Way

If you don’t have the time or resources to handle a new request from a business contact or client, here are strategies to help you decline while preserving the relationship:

Gather key details. Listen to the request carefully and ask questions. Also, thank the person for considering you to handle the request.

Listen to your gut. If something inside you is saying no — whether due to time, resources or the request simply isn’t within your scope of work — it’s probably the right response. However, if you prefer time to really consider the offer, explain that you need to check your schedule. Then, formulate your response.

Offer alternatives. If you ultimately decide the opportunity isn’t right for you, or it’s one you can’t handle in the necessary timeframe, don’t be afraid to say so. Also offer alternatives that might work for you, such as a different deadline or other idea if appropriate, which the other person may not have thought of.

Make connections. Just because you can’t handle a request, doesn’t mean you don’t know someone else who might be a great fit. Facilitate a referral. This shows you are empathetic and willing to help, and also that you value the person’s needs ahead of closing a deal.

Be personal. Facilitate referrals personally with a phone call, face-to-face introduction or email to the referred party letting him know why you are making the referral. This will establish your professionalism and credibility as well as a clear track record of your service mindset.

Saying no the right way can be an opportunity to show your professionalism and willingness to help your clients and contacts, which in turn can strengthen your relationships in the long term.

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

Sources: Inc., Lifehacker

Economic Calendar for the Week of November 14 – November 18

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. November 15
08:30
Retail Sales
Oct
NA
0.6%
HIGH
Tue. November 15
08:30
Retail Sales ex-auto
Oct
NA
0.5%
HIGH
Tue. November 15
08:30
Empire State Index
Nov
NA
-6.8
Moderate
Wed. November 16
08:30
Producer Price Index (PPI)
Oct
NA
0.3%
Moderate
Wed. November 16
08:30
Core Producer Price Index (PPI)
Oct
NA
0.2%
Moderate
Wed. November 16
10:00
Housing Market Index
Nov
NA
63
Moderate
Thu. November 17
08:30
Jobless Claims (Initial)
11/12
NA
NA
Moderate
Thu. November 17
08:30
Building Permits
Oct
NA
1225K
Moderate
Thu. November 17
08:30
Housing Starts
Oct
NA
1047K
Moderate
Thu. November 17
08:30
Core Consumer Price Index (CPI)
Oct
NA
0.1%
HIGH
Thu. November 17
08:30
Consumer Price Index (CPI)
Oct
NA
0.3%
HIGH
Thu. November 17
08:30
Philadelphia Fed Index
Nov
NA
9.7
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.

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