MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK

MMG Weekly / Vantage Production.blueForecast for the Week

The fireworks could begin early in this holiday-shortened but jam-packed week.

  • In the housing sector, Pending Home Sales will be released on Monday, followed by the S&P/Case-Shiller Home Price Index on Tuesday.
  • Look for manufacturing data from the Chicago PMI on Tuesday and the ISM Index on Wednesday.
  • Consumer Confidence will also be released on Tuesday.
  • The first of two key reports on the labor sector will be released on Wednesday with the ADP National Employment Report.
  • Thursday is the big day with the June Jobs Report, which includes Non-farm Payrolls, Hourly Earnings and the Unemployment Rate. Weekly Initial Jobless Claims will also be reported on Thursday, as usual.

All U.S. markets will be closed on Friday in observance of the July 4th holiday.

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 struggled in recent days. I’ll be watching closely to see if they’re able to bounce back in the days and weeks ahead.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday June 26, 2015)

Japanese Candlestick Chart
The Mortgage Market Guide View…

6 Keys to Remarkable Success

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” Aristotle, 345 B.C.

The myth that people are born talented is evaporating. The scientific community is at last catching up with what even Aristotle knew—the difference between success and non-success, skill and mediocrity, is a matter of dedication and time rather than innate ability.

But can the way you practice make a difference? Yes, says Tony Schwartz, author of “The Way We’re Working Isn’t Working,” who offers six principles for becoming really good at anything:

Pursue your passion. Passion will keep you motivated better than anything. If you can’t be passionate, find something else or you may burn out.

Hard work first. Most experts (and experts who study experts) say that practicing first thing in the morning when you have the most energy is best.

Practice intensely, but not too long. Working without interruption for short periods of no longer than 90 minutes with short breaks (and not longer than 4.5 hours each day) seems to be the norm for top performers.

Get feedback in small doses. Too much advice too frequently can impede learning and make you gun shy. Focus on your own experiments.

Refresh regularly. All work and no play … stinks! And it won’t help you in the long run. Plus, if it’s a breakthrough you want, rest is the best thing for activating your creative right hemisphere.

Ritualize practice. Time blocking ensures you don’t have to expend any energy thinking about when or how to work.

As always, feel free to pass these helpful tips along to your team, clients and colleagues!

Economic Calendar for the Week of June 29 – July 3

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. June 29
10:00
Pending Home Sales
May
NA
3.4%
Moderate
Tue. June 30
09:00
S&P/Case-Shiller Home Price Index
Apr
NA
5.0%
Moderate
Tue. June 30
09:45
Chicago PMI
Jun
NA
46.2
HIGH
Tue. June 30
10:00
Consumer Confidence
Jun
NA
95.4
Moderate
Wed. July 01
08:15
ADP National Employment Report
Jun
NA
201K
HIGH
Wed. July 01
10:00
ISM Index
Jun
NA
52.8
HIGH
Thu. July 02
01:00
Jobless Claims (Initial)
6/27
NA
271K
Moderate
Thu. July 02
01:00
Non-farm Payrolls
Jun
NA
280K
HIGH
Thu. July 02
01:00
Unemployment Rate
Jun
NA
5.5%
HIGH
Thu. July 02
01:00
Hourly Earnings
Jun
NA
0.3%
HIGH
Thu. July 02
08:30
Average Work Week
Jun
NA
34.5
Moderate

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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