Forecast for the Week 
The markets will be closed Monday in observance of the Martin Luther King, Jr. holiday, and the calendar is quiet the rest of the week.
- Weekly Initial Jobless Claims will be reported on Thursday, as usual. Last week, claims fell to 326,000, a six-week low.
- Also on Thursday, December’s Existing Home Sales will be reported.
In addition, earning season continues this week, with key reports from IBM, Microsoft and more. If reports are positive, Stocks could move higher at the expense of Bonds and home loan rates.
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 on which home loan rates are based.
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, it was a volatile week in the markets, with many reports released. I’ll continue to watch all the news closely for the latest developments
Chart: Fannie Mae 4.0% Mortgage Bond (Friday January 17, 2014)
The Mortgage Market Guide View…
Productivity Points
3 Apps to Help Keep You on Track
Setting resolutions is easy. The tricky part is keeping them! Here are three technological triumphs to help you achieve your New Year’s resolutions, or any other successes you’d like to see happen in your life.
Producteev. One of the most useful and user-friendly “to do” style apps primarily for business people. In addition to a well-organized interface, Producteev allows you to set up and monitor projects for one or two people or even a whole team with a simple invite.
Toodledo. You’ve seen a To-Do list before, but this app kicks it up a notch. Not only does it help you easily organize your tasks and set alarms, but it also allows you to collaborate with other people and establish sub-tasks to work towards your goal in small steps. Toodledo works on your mobile phone, email, calendar, and can even integrate directly into your web browser.
Tweet Reminders. Twitter is great for connecting with people and sharing news instantaneously. But did you know it’s also a great way to remind yourself about tasks? Need a reminder to call those past clients or write a weekly prospecting email? Simply visit the Tweet Reminders site, enter your Twitter username and up to 5 tasks or reminders, and pick a date and time to be reminded. You’ll get the scheduled reminder as a direct message on Twitter.
Give these helpful tips a try for your New Year’s resolutions and 2014 goals, and feel free to share them with your team, partners, and colleagues.
Economic Calendar for the Week of January 20 – January 24
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Thu. January 23 |
08:30
|
Jobless Claims (Initial) |
1/18
|
NA
|
326K
|
Moderate
|
|
| Thu. January 23 |
10:00
|
Existing Home Sales |
Dec
|
NA
|
4.90M
|
Moderate
|
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Mortgage Info By Michelle Wickett 