Thursday, July 27, 2017

Economic Observer
Fed, ECB Highlight the Week

Overview: Two major central bank meetings caused some volatility in mortgage rates over the past week. Neither ended up having much net effect, however, and mortgage rates ended the week with little change. 

As expected, the U.S. Federal Reserve made no change to the federal funds rate at its meeting on Wednesday. Of note, the Fed statement said that officials expect to begin to reduce its holdings of Treasury securities and mortgage-backed securities (MBS) "relatively soon." Investors think that this policy change may be announced as early as the next meeting on September 20. The statement also slightly changed its description for inflation as "running below 2%" instead of "running somewhat below 2%." Concerns that the Fed might be more hawkish had caused mortgage rates to rise on Tuesday, but the increase was reversed on Wednesday when the statement contained no surprises.

While the Fed is currently holding its balance sheet steady and plans to soon begin to shrink it, the European Central Bank (ECB) is still adding to its portfolio. At the ECB meeting on July 20, investors were hoping to learn more about the ECB's plans for its massive bond purchase program next year. Investors were disappointed by a lack of new information, though, as ECB President Draghi only provided the vague guidance that the discussion about when to begin scaling back the program should take place "in the fall."

The housing data released this week revealed that home sales have been holding fairly steady in recent months, despite a lack of inventory in many markets. In June, sales of previously owned homes decreased a little from May, but they still were higher than a year ago. Total inventory of homes for sale fell slightly to a 4.3-month supply, and it was 7% lower than a year ago. In addition, the median existing-home price was 7% higher than a year ago.

Week Ahead

Looking ahead, the Durable Goods Report will be released on Thursday. The first reading for second quarter Gross Domestic Product (GDP), the broadest measure of economic growth, will come out on Friday. The core Personal Consumption Expenditures (PCE) Price Index, the inflation indicator favored by the Fed, will be released on August 1. The Institute for Supply Management (ISM) Manufacturing Index also will come out on August 1, and the next Employment Report will be released on August 4. 

Contact me to discuss how I can help your clients with their mortgage needs.
Share this article:
Facebook  Twitter  LinkedIn  Google+  Pinterest
James P. Anzano PhotoJames P. Anzano
NMLS #209792
Glendenning Mortgage Corporation
81 E. Water Street
Toms River, NJ 08753
Visit my website
Glendenning Mortgage Corporation Logo
Economic Observer
Commentary provided by MBSQuoteline. For live MBS pricing visit

This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time. State License Disclosures for Glendenning Mortgage Corporation (NMLS 209086): • Licensed Lender, Delaware Office of the State Bank Commissioner (Lic.# 019170) • Licensed Florida Lender Servicer, Florida Office of Financial Regulation • Licensed Residential Mortgage Lender - Licensed by the New Jersey Department of Banking and Insurance • Licensed Pennsylvania Mortgage Lender, Pennsylvania Department of Banking & Securities

This email was sent by:
James P. Anzano, NMLS #209792
Glendenning Mortgage Corporation NMLS #209086
81 E. Water Street Toms River, NJ 08753

If you would no longer like to receive emails from Glendenning Mortgage Corporation, you can unsubscribe by clicking here: Unsubscribe
Privacy Statement

Equal Housing Lender
4,66 GB (31%) de 15 GB usados
Última atividade da conta: Há 1 dia

Hi sula,


John is launching his newest version of Music Marketing Manifesto and he's one of the few people in this business who's programs I love because they work!
And because I just launched my new book Social Media Tuneup last Friday, I'm adding it as a bonus when you buy John's program! If you already bought the book I will refund your book if you decide that MMM is right for you!
If you don't know him already, John is a major label recording artist turned music marketing guru, and my dear friend.
His newest project Music Marketing Manifesto 4.0 just went LIVE!
There's is a special EARLY BIRD DISCOUNT and that saves you $50 if you register here. Plus you get a free copy of my book!

What is Music Marketing Manifesto 4.0 and who is John Oszajca?

John Oszajca is one of the leading authorities on Direct to Fan Marketing for musicians. His experience as both a major label recording artist and a successful internet entrepreneur has given him a rare and valuable perspective on what it takes to sell music in the wild market of 2017.
Music Marketing Manifesto 4.0 is a brand new training program, in which John will show you the exact strategy that he has used to help countless artists climb to the top of various Billboard, iTunes, Amazon, Barns & Noble, and CD Baby sales charts. This strategy even led to one artist landing a GRAMMY nomination earlier this year!
In MMM 4.0, John allows you to watch over his shoulder and see how it's done. From A to Z, with nothing left out.
Watch this video to see what you'll get when you sign up!

MMM 4.0 is a multimedia course containing over 25 videos, the New and Improved MMM Website Template, custom email templates, case studies, and - my favorite part - an interactive members area where you can ask questions along the way and get direct assistance from John and his team!
You can save $50 (that's 25%) if you sign up RIGHT NOW! But remember, this is just an EARLY BIRD discount and the price WILL be going up soon.
And apparently, I'm not the only person impressed by this course...

"Before I bought MMM I had about 500 email subscribers and had sold less than 300 copies of my latest album. But then I came across MMM and applied the core strategy to my career. Now my email list is over 30,000 and I have sold over 9,000 copies of that same album. At one point that album was near the top of 9 different Billboard charts, simultaneously. Amazing!" –  Josh Solomon | Empty Pockets

"John Oszajca helped me with the marketing on my last two albums. Both albums climbed to #5 on Billboard's Blues Charts, and the last one was nominated for a GRAMMY. John is my music marketing Ninja! Follow his advice and your music career will flourish." – Janiva Magness

If you're a musician who is tired of relying on the old "if you build it they will come" strategies that most independent musicians are relying on, and you'd like to start applying practical, PROVEN marketing strategies that actually get results... 

Then this one's a no brainer!

Assim como o nosso direito de luta em defesa do meio abiente. Precisamos de ajuda antes que seja tarde demais. 

Defenda os Corais da Amazônia
Duas gigantes petroleiras tem planos de explorar a região e o vazamento pode causar danos irreparáveis aos Corais da Amazônia. A hora de agir é agora, precisamos da sua ajuda!

No comments:

Post a Comment