Forecast for the Week 
The second half of the week heats up with important news on the labor front.
- On Monday, we get data on manufacturing with the ISM Index.
- Wednesday will be a full day with Productivity, ISM Services Index and the Fed’s Beige Book.
- As usual, Weekly Initial Jobless Claims will be reported Thursday. Last week, Initial Jobless Claims came in above expectation at 354,000. The data remains in a range that is consistent with just modest job growth.
- On Friday, we end the week with the often market-moving Jobs Report for May, which includes Non-Farm Payrolls 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, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond that home loan rates are based on.
When you see these Bond prices moving higher, it means home loan rates are improving — and when they 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 were 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, May was a rough month for Bonds and home loan rates. But they remain near historic best levels and I will continue to monitor their movement closely.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday May 31, 2013)
The Mortgage Market Guide View…
Power Productivity Points 4 Things to Put On Your “Not To Do” List
“Beware the barrenness of a busy life.” Socrates
Working harder isn’t always the answer to expansion. Counter intuitive as it may seem, sometimes not doing things can increase your productivity and reduce your stress–a powerful combination for anyone who works just about anywhere. Creating a “Not To Do” list is essential if you want to grow your business, or show your employer you deserve that promotion.
Here are four things you can not do starting today to give you the margin you need to think and act more clearly in business and life:
Dumb uses for smartphones. If you’re constantly checking Facebook, answering or originating random text messages, or have any social media account alerts turned on, you’ll never be as productive as you could be.
Only check e-mail twice a day. Turn off your alerts here, too. Whenever you click on the “Get Mail” button, your brain drip feeds small doses of Something-Important-Is-About-To-Happen-Juice (psychologists call it dopamine). Except, it’s not true. Try out this tip for just one week and see if you don’t accomplish more than you thought possible.
Stop answering the phone. Emergencies aside, send your calls to voicemail first and return them only during set times (and state those times on your voicemail greeting). This has three instant benefits. First, it tells people you are a focused person, which they will respect and even appreciate. Second, it makes you a focused person–keeping you on task and freeing you from interruptions you can’t anticipate. Third, you can determine if you’re the right person to handle the call or if it can be delegated.
Just say no. There is a big difference between being busy and being productive. Want to know where you’re just busy? Keep track of everything you do every 30 minutes, every day, for one week. Then take all the items that aren’t moving you toward your goals and stop doing them, delegate them to someone else, or hire someone to do them for you. What will you do with all that extra time? Concentrate only on activities and processes that make money or move you ahead.
The key to more productivity is not more work. The key is more focus. Creating your “Not To Do” List will reset your priorities, refresh your morale and could even remake your career.
Make sure to pass these tips along to your clients and colleagues!
Economic Calendar for the Week of June 03 – June 07
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Mon. June 03 |
10:00
|
ISM Index |
May
|
50.9
|
50.7
|
HIGH
|
|
| Wed. June 05 |
08:15
|
ADP National Employment Report |
May
|
157K
|
119K
|
HIGH
|
|
| Wed. June 05 |
08:30
|
Productivity |
Q1
|
0.6%
|
0.7%
|
Moderate
|
|
| Wed. June 05 |
10:00
|
ISM Services Index |
May
|
53.5
|
53.1
|
Moderate
|
|
| Wed. June 05 |
02:00
|
Beige Book |
Jun
|
Moderate
|
|||
| Thu. June 06 |
08:30
|
Jobless Claims (Initial) |
6/1
|
347K
|
354K
|
Moderate
|
|
| Fri. June 07 |
08:30
|
Non-farm Payrolls |
May
|
164K
|
165K
|
HIGH
|
|
| Fri. June 07 |
08:30
|
Unemployment Rate |
May
|
7.5
|
7.5
|
HIGH
|
|
| Fri. June 07 |
08:30
|
Hourly Earnings |
May
|
0.2%
|
0.2%
|
HIGH
|
|
| Fri. June 07 |
08:30
|
Average Work Week |
May
|
34.4
|
34.4
|
HIGH
|
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Mortgage Info By Michelle Wickett 