Forecast for the Week 
In a packed economic calendar, Gross Domestic Product and the Federal Open Market Committee’s monetary policy statement will take center stage.
- Housing news will be plentiful this week with the S&P/Case-Shiller Home Price Index and New Home Sales on Tuesday, followed by Pending Home Sales on Wednesday.
- Consumer Confidence will be released Tuesday while the Consumer Sentiment Index will be delivered Friday.
- Durable Goods Orders will be reported Wednesday.
- Wednesday also brings the release of the FOMC’s monetary policy statement.
- As usual, weekly Initial Jobless Claims will be released Thursday.
- On Friday, look for Gross Domestic Product and the Employment Cost Index for the second quarter. Plus, July regional manufacturing data from the Chicago PMI will be shared.
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 hovered in a sideways pattern in recent days, keeping home loan rates near all-time lows.
The Mortgage Market Guide View…
5 Secrets to Remembering Names
Most of us have forgotten someone’s name, and felt pretty awkward about it. And if you do it too often in business, it could cost you. Here are five simple tips for remembering people’s names:
Greet, repeat. When you meet people for the first time, repeat their names right away by saying something like “Nice to meet you, Jake.” Then, make an attempt to use a person’s name throughout the time you spend together. Time the usage to what would seem natural.
Spell it out. If the name is at all unusual, ask the person to spell it for you. Sometimes visualizing the letters will help you remember. Or, if the name could have a variant spelling (e.g. Michele with one “l” or Chris with a “C” or a “K”), make sure to ask.
Card them. Ask for a business card and glance at it while you speak together to create an additional visual reference for better recall.
Associate your associates. If the person has the same name as a close friend or family member, make a mental note for easier recall. You can also link them to a favorite actor, singer or fictional character that you won’t forget.
Rhyme all the time. Jenn from Penn, Bill on the hill, Mary owns a dairy. A little humor can improve your recall of words and sentences, too.
Finally, one of the main reasons we forget people’s names is because we’re busy or have too much going on in our minds. Once you start to engage more fully with new acquaintances, the little details you gather will advance your name recall rapidly and make everyone feel important.
Sources: Forbes, wikiHow
Economic Calendar for the Week of July 25 – July 29
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Tue. July 26 |
09:00
|
S&P/Case-Shiller Home Price Index |
May
|
NA
|
5.4%
|
Moderate
|
|
| Tue. July 26 |
10:00
|
Consumer Confidence |
Jul
|
NA
|
98.0
|
Moderate
|
|
| Tue. July 26 |
10:00
|
New Home Sales |
Jun
|
NA
|
551K
|
Moderate
|
|
| Wed. July 27 |
08:30
|
Durable Goods Orders |
Jun
|
NA
|
-2.2%
|
Moderate
|
|
| Wed. July 27 |
10:00
|
Pending Home Sales |
Jun
|
NA
|
-3.7%
|
Moderate
|
|
| Wed. July 27 |
02:00
|
FOMC Meeting |
Jul
|
NA
|
0.375%
|
HIGH
|
|
| Thu. July 28 |
08:30
|
Jobless Claims (Initial) |
7/23
|
NA
|
NA
|
Moderate
|
|
| Fri. July 29 |
08:30
|
Gross Domestic Product (GDP) |
Q2
|
NA
|
1.1%
|
Moderate
|
|
| Fri. July 29 |
08:30
|
GDP Chain Deflator |
Q2
|
NA
|
0.4%
|
Moderate
|
|
| Fri. July 29 |
08:30
|
Employment Cost Index (ECI) |
Q2
|
NA
|
0.6%
|
HIGH
|
|
| Fri. July 29 |
09:45
|
Chicago PMI |
Jul
|
NA
|
56.8
|
HIGH
|
|
| Fri. July 29 |
10:00
|
Consumer Sentiment Index (UoM) |
Jul
|
NA
|
93.5
|
Moderate
|
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Mortgage Info By Michelle Wickett 