MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK

MMG Weekly / Vantage Production.blueForecast for the Week

This week brings news on manufacturing and housing, and possibly inflation.

  • Manufacturing data from the Empire State Index and the Philadelphia Fed Index will be released Tuesday and Thursday, respectively, as they are not government reports.
  • Unless the government reopens, the Consumer Price Index will not be reported by the Bureau of Labor Statistics, though it is scheduled for Wednesday.
  • Housing data begins Wednesday with the National Association of Home Builders Housing Market Index. This will be followed by Housing Starts and Building Permits Thursday. Investors will be looking to see if higher rates have impacted improvements in the sector.
  • As usual, Weekly Initial Jobless Claims will be reported on Thursday. This comes after claims spiked last week due to computer glitches and fallout from the shutdown.

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 were able to regain some losses late last week as the Fed’s Bond purchase program continues to support the markets. Home loan rates remain attractive and I’ll be monitoring them closely

Chart: Fannie Mae 4.0% Mortgage Bond (Friday October 11, 2013)

Japanese Candlestick Chart

The Mortgage Market Guide View…

Do You Make These Mistakes On Twitter?

It only takes a moment to win (or lose) a customer–and it’s little different with your Twitter followers. Avoid these common mistakes in your tweets and watch your list explode… in a good way!

Grammar got run over by a reindeer. Proper word usage, spelling, and punctuation all matter on social media. Brush up easily with this classic reference.

You never get a second chance to make a first impression. Don’t use the default photo or background. Personalize your profile in ways that highlight your professionalism.

Hashtags are useful for tracking and participating in conversations. But before you use them, make sure the hashtags are being used in a manner consistent with your brand and message. Also, don’t use too many in a single post, or make them too long because #theyarebothtoodifficulttocomprehend.

Limit your tweets to 140 characters. If you need to say something that takes up more space than that, blog it and tweet the link. Don’t use contiguous tweets.

Too direct, perhaps? Sending direct messages to followers to say thank you or pitch anything at all (yes, even free stuff like your website or blog) is bad form.

Binge posting. Too many tweets, or more commonly, too many self-promotional tweets will shrink your list quickly. Rule of thumb: 90% content, 10% promotion.

Edit tweets from sites that provide already written copy. Give them your own style or spin before you post.

Stay away from online debates. Agree to disagree, then move on. Winning a fight on Twitter isn’t worth the high likelihood of risk to your brand.

Retweet this. The best way to get a retweet is to ask–not beg. Adding a simple “RT” to the end of a tweet gets an average 73 retweets per tweet, currently the most effective way.

Success on Twitter requires brevity along with useful or highly interesting information. Remember that and you’re already well on your way to Twitter greatness–and more potential business!

Feel free to pass these tips along to your team, clients, and colleagues so they can learn to use Twitter more effectively.

Economic Calendar for the Week of October 14 – October 18

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. October 15
08:30
Empire State Index
Oct
NA
6.3
HIGH
Wed. October 16
08:30
Consumer Price Index (CPI)
Sept
NA
0.1%
HIGH
Wed. October 16
08:30
Core Consumer Price Index (CPI)
Sept
NA
0.1%
HIGH
Wed. October 16
10:00
Housing Market Index
Oct
NA
58
Moderate
Wed. October 16
02:00
Beige Book
Oct
NA
NA
Moderate
Thu. October 17
08:30
Jobless Claims (Initial)
10/12
NA
374K
Moderate
Thu. October 17
08:30
Housing Starts
Sept
NA
891K
Moderate
Thu. October 17
08:30
Building Permits
Sept
NA
918K
Moderate
Thu. October 17
10:00
Philadelphia Fed Index
Oct
NA
22.3
HIGH

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.

Equal Housing Lender

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