MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Trading volumes may diminish heading into the holidays, but economic data remains plentiful.
  • Housing data releases begin Wednesday with Existing Home Sales followed by New Home Sales on Friday.
  • Thursday is report-heavy with the final reading of third quarter Gross Domestic Product, Durable Goods Orders, Personal Income, Personal Spending and Personal Consumption Expenditures.
  • As usual, weekly Initial Jobless Claims also will be report Thursday.
  • On Friday, the Consumer Sentiment Index will be delivered.
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, after leveling off for a short time, Mortgage Bonds took a dive recently. Despite the uptick in home loan rates, they still remain historically low.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday December 16, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

What Do Your Eye Expressions Say?

In any business environment, it’s important to be aware of communication signals you may be inadvertently sending. Your eye expressions, for example, can convey so much with little effort. Understanding that body language is often more about how people interpret your signals, rather than the actual intention behind them, is key. Here are five insights into how people may interpret your eye contact:

Narrowing your eyes is often an involuntary response when you’re concentrating. People can misinterpret this innocent response as anger, disagreement or harsh judgment, especially if you’re looking directly at someone. Practice keeping your eyes open and alert without raising your eyebrows.

Checking the clock is an innocent habit that will signal a lack of interest. Never let anyone think you don’t value their time, even if a meeting is going into overtime. Presence of mind shows you hold people in high regard, which has many business benefits.

Avoiding eye contact, can signal a confidence problem, undermine trust, and if you’re speaking, can convey you don’t have a full grasp of your subject. Correct this issue by occasionally making eye contact for just three seconds with those around you.

Maintaining strong eye contact can be perceived as an intimidation tactic. But the way you break eye contact is important. Looking to the side of a person’s head, rather than looking down, is best.

Rolling your eyes is always a communication killer. Even if you don’t value or agree with what’s being said or you are frustrated, rolling eyes can cause people to shut down, resulting in less information and not accomplishing tasks. Find less conspicuous ways to channel frustration, like pressing the pads of two fingers together.

Eyes aren’t the only communication tools at your disposal. Check out 20 more body language mistakes you could be making.

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 December 19 – December 23

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Wed. December 21
10:00
Existing Home Sales
Nov
NA
5.60M
Moderate
Thu. December 22
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
1.7%
HIGH
Thu. December 22
08:30
Personal Consumption Expenditures and Core PCE
Nov
NA
0.1%
HIGH
Thu. December 22
08:30
Personal Spending
Nov
NA
0.3%
Moderate
Thu. December 22
08:30
Personal Income
Nov
NA
0.6%
Moderate
Thu. December 22
08:30
Durable Goods Orders
Nov
NA
4.8%
Moderate
Thu. December 22
08:30
Jobless Claims (Initial)
12/17
NA
NA
Moderate
Thu. December 22
08:30
GDP Chain Deflator
Q3
NA
1.4%
Moderate
Thu. December 22
08:30
Gross Domestic Product (GDP)
Q3
NA
3.2%
Moderate
Fri. December 23
10:00
Consumer Sentiment Index (UoM)
Dec
NA
98.0
Moderate
Fri. December 23
10:00
New Home Sales
Nov
NA
563K
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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