MMG WEEKLY – WHAT ARE THEY SAYING THIS WEEK?

MMG Weekly / Vantage Production.blueForecast for the Week

Investors and the Federal Reserve will chew on a variety of economic reports to get a sense of whether or not the U.S. economy is improving or slowing down.
  • 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.
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, 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)

Japanese Candlestick Chart

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

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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