MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG WeeklyForecast for the Week

A full week of reports is ahead, plus the Fed meets!

  • The week kicks off with news from the manufacturing sector with Monday’s Empire State Index, followed by the Philadelphia Fed Index on Thursday.
  • In the housing sector, Housing Starts and Building Permits will be released on Tuesday. Also look for Existing Home Sales on Thursday.
  • Tuesday also brings important inflation news, with the Consumer Price Index for May.
  • As usual on Thursday, Weekly Initial Jobless Claims will be released.

In addition, the Fed’s next two-day meeting of the Federal Open Market Committee begins Tuesday, with its Policy Statement and rate decision released at 2:00 pm ET Wednesday. The markets will be listening closely to see if the Fed makes further mention of tapering its Bond purchase program.

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 have attempted to stabilize and regain some improvements. Home loan rates remain at attractive levels and I will continue to monitor their movement closely.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday June 14, 2013)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Do You Make These Mistakes on Facebook?
4 Ways to Keep Followers Engaged and Wanting More

Facebook can be a great tool for businesses to connect with their clients and potential clients. But it’s critical to recognize that certain types of communication can actually hinder engagement. Here are four important mistakes to avoid.

Social media sparring
Facebook is not a forum for argument. If your followers get into a tussle, don’t be tempted to moderate. And if someone wants to pick a fight with you, or say disparaging things about your company, don’t retaliate. Figure out some way to handle the situation as if it were happening in public (because it is).

Anybody in there?
Not responding to posts from followers or even delaying your replies too long hurts engagement. Try to respond within the same day, even if it’s just with a ‘Like’ on the comment.

Less is more
You don’t need fifteen posts a day to engage your followers. In fact, if you spam the News Feed like that, it’s a recipe for getting ‘Unliked’ fast, not to mention killing your engagement rates over time. One influential social media management company says two posts a day is just about perfect for peak engagement, as long as posts are engaging.

Don’t always be closing
Facebook is best used to share stimulating and diverse content, create meaningful conversations, and build your community. Once you’ve built that community, sales and referrals flow naturally from the trust you create. Companies that do nothing but promote products or services have weak communities. Followers engage best with videos, pictures or interesting topical questions — anything that puts a human face on your brand is a good thing.

Don’t get left behind, the sooner you start building your community, the faster your business will benefit. Make sure to pass these tips along to your clients and colleagues!

Economic Calendar for the Week of June 17 – June 21

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. June 17
08:30
Empire State Index
Jun
0.8
-1.4
Moderate
Tue. June 18
08:30
Consumer Price Index (CPI)
May
0.2%
-0.4%
HIGH
Tue. June 18
08:30
Core Consumer Price Index (CPI)
May
0.1%
0.1%
HIGH
Tue. June 18
08:30
Housing Starts
May
957K
853K
Moderate
Tue. June 18
08:30
Building Permits
May
976K
1017K
Moderate
Wed. June 19
02:00
FOMC Meeting
Jun
NA
0.25%
HIGH
Thu. June 20
08:30
Jobless Claims (Initial)
6/15
340K
334K
Moderate
Thu. June 20
10:00
Existing Home Sales
May
5.00M
4.97M
Moderate
Thu. June 20
10:00
Philadelphia Fed Index
Jun
-0.2
-5.2
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.

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