MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

The first full week of 2016 is full of economic data from manufacturing and labor.
  • Monday kicks off with manufacturing data from the ISM Index.
  • Wednesday’s releases include the ADP National Employment Report and ISM Services Index.
  • As usual, weekly Initial Jobless Claims will be delivered Thursday.
  • Friday brings the market-moving Jobs Report for December, including Hourly Earnings,Average Work Week, Non-farm Payrolls and the Unemployment Rate.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, 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. When Bond prices 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 are 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, Bond prices moved lower and held steady as 2015 came to a close. Despite the drop, home loan rates are still just above historic lows.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday January 1, 2016)

Japanese Candlestick Chart

The Mortgage Market Guide View…

 

Get Business Through Yelp Reviews

If you’re truly focused on customer service, collecting social media reviews from satisfied customers is an absolute must for influencing prospects and winning new local business relationships. One of the most popular ways to show off your service online, and increase your search engine rankings, is through positive Yelp reviews.

Here are six steps to getting new business through Yelp:

  1. Claim your business listing and make sure the type of business, location and services are accurate. Click here to find or list your business.
  2. Don’t solicit canned reviews from family or friends. Yelp discourages business owners from asking for solicited reviews because most of the time they will reflect a bias that savvy consumers can sense. Yelp also uses algorithms to detect solicited reviews in order to protect their user base from these practices.
  3. Do let your customers know you are on Yelp without soliciting. Creating awareness of your business through social media outlets without asking for a review is both important and recommended.
  4. Link to your Yelp listing from your website. Access Yelp’s free online brand assets to put an image button on your pages.
  5. Place a sign in your place of business where it can be seen by waiting customers. You can even get a free sticker for your window.
  6. Link to your Yelp listing in email signatures with the approved wording, “Check us out on Yelp!”
Allowing consumers to review you without feeling pressured can go a long way to earning a great reputation online, and complement the hard work you’ve put in offline.
Feel free to pass these tips along to your team, clients and colleagues.
Source: Yelp

Economic Calendar for the Week of January 04 – January 08

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. January 04
10:00
ISM Index
Dec
NA
48.6
HIGH
Wed. January 06
08:15
ADP National Employment Report
Dec
NA
217K
Moderate
Wed. January 06
10:00
ISM Services Index
Dec
NA
55.9
Moderate
Thu. January 07
08:30
Jobless Claims (Initial)
1/02
NA
NA
Moderate
Fri. January 08
08:30
Non-farm Payrolls
Dec
NA
211K
HIGH
Fri. January 08
08:30
Unemployment Rate
Dec
NA
5.0%
HIGH
Fri. January 08
08:30
Hourly Earnings
Dec
NA
0.2%
HIGH
Fri. January 08
08:30
Average Work Week
Dc
NA
34.5
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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