Forecast for the Week 
Economic reports begin on Thursday and there are several important items to watch.
- As usual, Weekly Initial Jobless Claims will be reported Thursday. Initial Jobless Claims fell by 11,000 in the latest week to 346,000, coming in just below expectations. The range of recent claims numbers could signal that federal budget cuts and payroll tax increases may not be impacting employers’ headcounts at firms across the nation.
- Also on Thursday, Retail Sales for May will be reported.
- On Friday, we end the week with the Producer Price Index, which measures inflation at the wholesale level, and the Consumer Sentiment Index.
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, Bonds and home loan rates remain at attractive levels. I will continue to monitor their movement closely.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday June 07, 2013)
The Mortgage Market Guide View…
3 Simple Steps to Secure Your Smart Phone
Your cell phone is an easy target for pickpockets and identity thieves. Keep it safe.
By Kiplinger’s Personal Finance magazine, Kiplinger.com
A smart phone puts your e-mail in-box, contact list and financial accounts at your fingertips. But information could easily land in a stranger’s hands. Here’s how to protect your phone.
Step 1
Open your phone’s security settings and select a password, PIN or pattern to lock the screen. You’ll enter it each time you use your phone.
Step 2
Set up the ability to track your phone’s location online and erase its data in case the phone is lost or stolen. Android users can download an app such as the free Android Lost. The iPhone comes with Find My iPhone, which you must activate on the device through iCloud. Windows Phone owners can log in to their Microsoft accounts to use the built-in Find My Phone feature.
Step 3
Before downloading an unfamiliar app, search the Web for reviews to verify that its developer is legitimate. For online activity, using your cellular data plan helps keep your information safe. If you turn on Wi-Fi through your phone’s network settings, avoid unsecured networks (you’ll have to enter a password to access secured Wi-Fi). Install software updates as soon as you receive notices about them. And log out of banking apps after you use them (as well as any others that might include sensitive data). \
The payoff
Your data stays private.
Reprinted with permission. All Contents (c)2013 The Kiplinger Washington Editors. Kiplinger.com.
Economic Calendar for the Week of June 10- June1
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Thu. June 13 |
08:30
|
Jobless Claims (Initial) |
6/8
|
345K
|
346K
|
Moderate
|
|
| Thu. June 13 |
08:30
|
Retail Sales |
May
|
0.3%
|
0.1%
|
HIGH
|
|
| Thu. June 13 |
08:30
|
Retail Sales ex-auto |
May
|
0.3%
|
-0.2%
|
HIGH
|
|
| Fri. June 14 |
08:30
|
Producer Price Index (PPI) |
May
|
0.1%
|
-0.7%
|
Moderate
|
|
| Fri. June 14 |
08:30
|
Core Producer Price Index (PPI) |
May
|
0.1%
|
0.1%
|
Moderate
|
|
| Fri. June 14 |
10:00
|
Consumer Sentiment Index (UoM) |
Jun
|
82.5
|
84.5
|
Moderate
|
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Mortgage Info By Michelle Wickett 