F
orecast for the Week 
There will be fireworks on Thursday due to the Independence Day holiday, and perhaps also on Friday due to some important labor market news.
- On Monday, we get data on manufacturing with the ISM Index.
- The ISM Services Index, a national non-manufacturing index, will be released on Wednesday.
- Weekly Initial Jobless Claims will be released on Friday this week due to Thursday’s July 4 holiday, along with the often market-moving Jobs Report for June, which includes Non-Farm Payrolls and the Unemployment Rate.
On Wednesday, the Bond Market will close at 2:00 p.m. ET and the Stock Market will close at 1:00 p.m. ET, and both markets will be closed all day Thursday for the July 4 holiday. Wishing everyone a safe and happy Independence Day.
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 were able to rally last week. I’ll continue to monitor their movement closely.
Chart: Fannie Mae 3.5% Mortgage Bond (Friday June 28, 2013)
The Mortgage Market Guide View…
Social Media Sizzle, Part 2
6 Easy Ways to Get Retweets
The retweet is the highest compliment and ultimate goal on the Twitter stage. It is also the fastest way to build a bigger audience, develop a stronger following, and get more web traffic to your site. The competition is fierce, with over 58 million tweets going out each and every day. Here are six ways to grab your fair share of retweets:
1. Timing is everything. And asking for a retweet is no exception. According to Dan Zarrella’s The Science of Retweets, 2:00 p.m. to 6:00 p.m. in your time zone is the best time to tweet and ask followers for a retweet.
2. Go ahead, ask! It’s really this easy: adding the phrase “please retweet” or “Pls RT” or “RT” can increase your chances of getting one by 160 percent according to Jerry Low, blogger and technology expert.
3. Add value and be interesting. News and instruction are the two types of content topping the list of the most retweeted updates. Embedding a link in your tweets is the best way to share information or get the conversation started.
4. What goes around comes around. The most retweeted users are also the most active retweeters. Chris Brogan, with over 248,000 followers, says your retweet ratio should be at least 15:1. For every one self-promotional tweet, he promotes up to 15 for his followers.
5. Save me some space, Ace. Ever try to retweet something but ran out of room and gave up? You’re not alone. With only 140 characters allowed, keeping your tweets between 80-110 is a challenge, but a skill worth developing.
6. Tweets and hashtags go together. A recent study by Microsoft showed 18 percent of retweets contained hashtags. You can learn more hashtag tips on SocialBakers.com, a website dedicated to social media statistics and metrics.
Don’t forget to pass these tips along to your clients and colleagues!
Economic Calendar for the Week of July 01 – July 05
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Mon. July 01 |
10:00
|
ISM Index |
Jun
|
NA
|
49.0
|
Moderate
|
|
| Wed. July 03 |
10:00
|
ISM Services Index |
Jun
|
NA
|
53.7
|
Moderate
|
|
| Fri. July 05 |
08:30
|
Jobless Claims (Initial) |
6/29
|
NA
|
NA
|
Moderate
|
|
| Fri. July 05 |
08:30
|
Non-farm Payrolls |
Jun
|
NA
|
175K
|
HIGH
|
|
| Fri. July 05 |
08:30
|
Unemployment Rate |
Jun
|
NA
|
7.6%
|
HIGH
|
|
| Fri. July 05 |
08:30
|
Hourly Earnings |
Jun
|
NA
|
0.0%
|
Moderate
|
|
| Fri. July 05 |
08:30
|
Average Work Week |
Jun
|
34.5
|
34.5
|
Moderate
|
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Mortgage Info By Michelle Wickett 