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Mortgage Marketing Guide: Housing and GDP Something to Sing About
|In This Issue…|
Last Week in Review: August New Home Sales and second quarter Gross Domestic Product surged, while sales of existing homes in August disappointed.
[su_spacer size=”10″] Forecast for the Week: The highly anticipated Jobs Report rounds out a week full of economic indicators.
[su_spacer size=”10″] View: Develop your leadership skills with six must-see TED talks.
|Last Week in Review|
“Sing with me, sing for the year, sing for the laughter, sing for the tear.” Aerosmith. While year-over-year housing data sings of a strengthening market, some monthly results are true tearjerkers.
August Existing Home Sales, as reported by the National Association of REALTORS®, declined 4.8 percent from July to an annual rate of 5.31 million. This was below the 5.50 million expected. The disappointing drop comes after three straight monthly gains. Year-over-year sales, however, have risen for 11 consecutive months and are 6.2 percent above a year ago.
|Forecast for the Week|
The week is full of key economic data on housing, manufacturing and inflation, all leading up to the highly anticipated September Jobs Report 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.
[su_spacer size=”10″] 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.
[su_spacer size=”10″] 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.
[su_spacer size=”10″] As you can see in the chart below, Mortgage Bond prices have remained higher in recent weeks, keeping home loan rates near historic lows.
Chart: Fannie Mae 3.5% Mortgage Bond (Friday September 25, 2015)
|The Mortgage Market Guide View…|
6 TED Talks for Developing Powerful Leadership
[su_spacer size=”10″] You don’t have to go to management school to learn how to be a great leader. These short TED lectures will help you unleash your leadership potential. Watch them yourself, make a day of it and host your own “leadership retreat” for employees, clients or referral partners, or use them as part of a “lunch and learn” discussion.
[su_spacer size=”10″] The Power of Believing That You Can Improve – Carol Dweck researches motivation, why people succeed (or don’t) and how to foster success. In this talk, she describes two ways to think about a problem that’s slightly too hard for you to solve.
[su_spacer size=”10″] The Key To Success? Grit – Angela Lee Duckworth defines grit as “passion and perseverance for long-term goals.” She explains her theory of “grit” as a predictor of success.
[su_spacer size=”10″] Plug Into Your Hard-wired Happiness – Executive, educator and life coach Srikumar Rao discusses how happiness is hardwired into us and easier to achieve than many people think.
[su_spacer size=”10″] 3 Rules to Spark Learning – Educator Ramsey Musallam shows how curiosity and experimentation are the keys to powerful innovation.
[su_spacer size=”10″] The Power of Vulnerability – Researcher Brené Brown explains why being vulnerable helps you address, acknowledge and work through almost any internal resistance in yourself or others.
[su_spacer size=”10″] How Too Many Rules at Work Keep You From Getting Things Done – Business Consultant Yves Morieux shows how measurement and processes can be counterproductive and how to make more room for freedom and collaboration.
[su_spacer size=”10″] Feel free to pass these helpful tips along to your team, clients and colleagues!
[su_spacer size=”10″] Source: Inc.com
Economic Calendar for the Week of September 28 – October 02
Christian Penner Branch Manager | Cell/Text: (561) 373-0987
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The Christian Penner Mortgage Team | Cell/Text: (561) 373-0987