MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Key housing, manufacturing and inflation reports are ahead. Plus, the Fed meeting could cause even more volatility.

  • Look for news from the manufacturing sector with the Empire State Index on Monday and the Philadelphia Fed Index on Thursday.
  • The NAHB Housing Market Index will be released on Monday, followed by Housing Starts and Building Permits on Tuesday.
  • Thursday brings key inflation news via the Consumer Price Index, as well as Weekly Initial Jobless Claims.

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, Mortgage Bonds have halted their plunge in recent days. I’ll be watching closely to see if this trend continues.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday June 12, 2015)

Japanese Candlestick Chart
The Mortgage Market Guide View…

Staying Organized With Apps!

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Cortana for Windows phones is a personal assistant that performs voice-activated searches, just like iPhone’s Siri. It can access personal usage data and emails to provide alerts and reminders automatically. Free for Windows.

Source: Forbes

Economic Calendar for the Week of June 15 – June 19

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. June 15
08:30
Empire State Index
Jun
NA
3.1
Moderate
Mon. June 15
10:00
Housing Market Index
Jun
NA
54
Moderate
Tue. June 16
08:30
Housing Starts
May
NA
1135K
Moderate
Tue. June 16
08:30
Building Permits
May
NA
1143K
Moderate
Wed. June 17
02:00
FOMC Meeting
Jun
NA
0.25%
HIGH
Thu. June 18
08:30
Jobless Claims (Initial)
6/13
NA
279K
Moderate
Thu. June 18
08:30
Consumer Price Index (CPI)
May
NA
0.1%
HIGH
Thu. June 18
08:30
Core Consumer Price Index (CPI)
May
NA
0.3%
HIGH
Thu. June 18
10:00
Philadelphia Fed Index
Jun
NA
6.7
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. 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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