Forecast for the Week 
The economic calendar is busy this week with several housing reports front and center.
- Look for the S&P/Case Shiller Home Price Index on Tuesday, New Home Sales on Wednesday, and Pending Home Sales on Friday.
- We’ll get a read on consumer attitudes with Consumer Confidence on Tuesday and the Consumer Sentiment Index on Friday.
- As usual, Weekly Initial Jobless Claims will be reported on Thursday.
- Thursday also brings January’s Durable Goods Orders, which are orders for items that last for an extended period of time.
- On Friday, look for the second reading of Gross Domestic Product for the fourth quarter of 2013, as well as Chicago PMI, a key manufacturing report.
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, Bonds have suffered due to the recent rally in Stocks. However, home loan rates remain attractive, hovering just above historic bests. I will continue to monitor them closely.
Chart: Fannie Mae 4.0% Mortgage Bond (Friday February 21, 2014)
The Mortgage Market Guide View…
“Posturing” Your Way to Success
Do You Make These Common Body Language Mistakes?
Body language plays a huge part in the impressions people form of you, and it can enhance or undermine the points you’re trying to make.
A great way to evaluate your body language is to set up a camera and practice your pitch to your spouse, siblings, or co-workers in a role-play scenario. Talk to them just as you would a client. Then watch the recording and see what your body language is telling people. You may be surprised by what you notice.
Here are five simple suggestions for improving your body language:
Don’t frown at objections. Frowning is a natural reaction in this situation, but remember that frowning indicates defeat or anger—and is obviously negative. Smile as you counter the objection with a positive comment.
Mirror the other person’s body language. This could possibly win them over subconsciously. When you imitate the way people posture themselves, your non-verbal communication says, “I like you, you’re just like me.”
Make appropriate eye contact, but don’t stare! An intense stare makes people uncomfortable, and can even make them feel you’re a little off balance. On the other hand, if you avoid eye contact, the person you are speaking to will probably think you’re lying. Be attentive and smile.
Stand up straight. That age-old advice from mom really is important! Slumped shoulders always give a negative impression.
Sit forward. When you’re sitting behind a desk in front of clients, relax and lean slightly forward with one shoulder as you tilt your head just a bit. This shows you are captivated by what they have to say. On the other hand, leaning back and clasping your hands behind your head may give the impression that you are full of yourself.
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Tue. February 25 |
09:00
|
S&P/Case-Shiller Home Price Index |
Dec
|
NA
|
13.7%
|
Moderate
|
|
| Tue. February 25 |
10:00
|
Consumer Confidence |
Feb
|
NA
|
80.7
|
Moderate
|
|
| Wed. February 26 |
10:00
|
New Home Sales |
Jan
|
NA
|
414K
|
Moderate
|
|
| Thu. February 27 |
08:30
|
Jobless Claims (Initial) |
2/22
|
NA
|
NA
|
Moderate
|
|
| Thu. February 27 |
08:30
|
Durable Goods Orders |
Jan
|
NA
|
-4.2%
|
Moderate
|
|
| Fri. February 28 |
01:00
|
Consumer Sentiment Index (UoM) |
Feb
|
NA
|
81.2
|
Moderate
|
|
| Fri. February 28 |
01:00
|
Pending Home Sales |
Jan
|
NA
|
-8.7%
|
Moderate
|
|
| Fri. February 28 |
08:30
|
GDP Chain Deflator |
Q4
|
NA
|
1.3%
|
Moderate
|
|
| Fri. February 28 |
08:30
|
Gross Domestic Product (GDP) |
Q4
|
NA
|
3.2%
|
Moderate
|
|
| Fri. February 28 |
09:45
|
Chicago PMI |
Feb
|
NA
|
59.6
|
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.
Mortgage Info By Michelle Wickett 