Forecast for the Week 
- Tuesday brings the final release of first quarter 2016 Gross Domestic Product.
- Consumer data takes the form of Consumer Confidence on Tuesday. The inflationary reading Personal Consumption Expenditures along with Personal Income andPersonal Spending release on Wednesday.
- Housing data will be released via the S&P/Case-Shiller Home Price Index on Tuesday and Pending Home Sales Wednesday.
- As usual, weekly Initial Jobless Claims will be reported Thursday.
- Regional manufacturing will be shared Thursday in the Chicago PMI, followed by national data in the ISM Index to close out the week on Friday.
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, Mortgage Bonds rallied on Friday after the UK voted Thursday to exit the European Union. Home loan rates remain near historic lows
Chart: Fannie Mae 3.0% Mortgage Bond (Friday June 24, 2016)
The Mortgage Market Guide View…
Simplify Business Expense Tracking
Tracking expenses can be easy enough to forget or procrastinate, especially if your day is hectic, you’re frequently on the road, or more commonly, you don’t have a simple way to keep track. Here are three foolproof apps that make general expense tracking a snap:
Shoeboxed is a receipt organization app that uses optical character recognition (OCR) technology in concert with your mobile device to precisely scan everything you need to track, from receipts to business cards, and makes them easily accessible for you. Or, you can fill prepaid envelopes with your receipts, papers and cards, mail them, and let Shoeboxed scan and sort it all for you. For Web, iPhone, iPad and Android. $9.95 per month for an individual user.*
BizXpenseTracker helps you track all your expenses, manage receipts and even track your time (with multiple pay rates and currencies) in either total hours or using start/stop mode. Mileage can also be tracked in start/stop mode. You can even print easy-to-read reports for your accountant at tax time. $6.99 for iPhone and iPad. If you don’t need to track time and rates, the “kid brother” version, XpenseTracker, is $2 less.*
Expensify automatically uploads credit card purchases into the app, sparing you from time-consuming data entry. You can also track time and mileage. Reporting and analytics guarantees you’re compliant with company and IRS guidelines. Plus, reports can be converted to PDF files.For Web, iOS and Android starting at $5 per user per month.*
Don’t let any more expenses go unreported or spend any more time waiting for reimbursements. Give these handy apps a test drive!
Please feel free to pass these helpful tips along to your team, clients and colleagues.
*Availability and pricing at time of writing.
Economic Calendar for the Week of June 27 – July 1
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Tue. June 28 |
08:30
|
Gross Domestic Product (GDP) |
Q1
|
NA
|
0.8%
|
HIGH
|
|
| Tue. June 28 |
08:30
|
GDP Chain Deflator |
Q1
|
NA
|
0.6%
|
HIGH
|
|
| Tue. June 28 |
09:00
|
S&P/Case-Shiller Home Price Index |
Apr
|
NA
|
5.4%
|
Moderate
|
|
| Tue. June 28 |
10:00
|
Consumer Confidence |
Jun
|
NA
|
92.6
|
Moderate
|
|
| Wed. June 29 |
08:30
|
Personal Consumption Expenditures and Core PCE |
YOY
|
NA
|
1.6%
|
HIGH
|
|
| Wed. June 29 |
08:30
|
Personal Consumption Expenditures and Core PCE |
May
|
NA
|
0.2%
|
HIGH
|
|
| Wed. June 29 |
08:30
|
Personal Spending |
May
|
NA
|
1.0%
|
Moderate
|
|
| Wed. June 29 |
08:30
|
Personal Income |
May
|
NA
|
0.4%
|
Moderate
|
|
| Wed. June 29 |
10:00
|
Pending Home Sales |
May
|
NA
|
5.1%
|
Moderate
|
|
| Thu. June 30 |
08:30
|
Jobless Claims (Initial) |
6/18
|
NA
|
NA
|
Moderate
|
|
| Thu. June 30 |
09:45
|
Chicago PMI |
Jun
|
NA
|
49.3
|
HIGH
|
|
| Fri. July 01 |
10:00
|
ISM Index |
Jun
|
NA
|
51.3
|
HIGH
|
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Mortgage Info By Michelle Wickett 