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Michael Magnabousco Corporate Account Executive Vantage Production Phone: 800-963-1900 x 1538 Direct Number 732-526-1538 License: Ask Me About This Service !! mmagnabousco@vantageproduction.com www.vantageproduction.com

In This Issue               Last Week in Review: The Fed minutes led to renewed talk of tapering, plus key housing data was released. Forecast for the Week: Reports will be plentiful in the first half of the week, before the Thanksgiving holiday. View: Defeat the treat with these tips for avoiding snacking on holiday goodies at the office.             Last Week in Review               "I Can See Clearly Now." Johnny Nash may have hit number one on the charts with this classic tune in 1972, and forty-one years later the markets would sure love a clear sign regarding when the Fed may taper its Bond purchase program known as Quantitative Easing.   Remember that the Fed has been purchasing $85 billion in Bonds and Treasuries each month to stimulate the economy and housing market. This includes Mortgage Bonds, to which home loan rates are tied. Last week, the minutes from the Fed's October meeting of the Federal Open Market Committee revealed that members did discuss tapering these purchases–but there was no clear sign when tapering would begin. This led to a volatile Wednesday, causing both Stocks and Bonds to worsen immediately after the minutes were released. In housing news to note, Existing Home Sales for October fell by 3.2 percent due to a rise in home loan rates and housing prices. This was the second month of declines, as there were 5.12 million units sold annualized, below the 5.20 million expected. In addition, the National Association of Home Builders reported that its Housing Market Index fell to the lowest level since June, but the figure does remain in positive territory. Meanwhile, Retail Sales rose more than expected in October, as the decline in gas prices gave consumers extra money to spend, while both consumer and wholesale inflation remain tame. What does this mean for home loan rates? The housing sector has been on an improving streak, but as the reports above show, these improvements could be hindered if home loan rates continue to rise. One thing is clear: The Fed has said that economic reports will be a key factor regarding when it begins to taper its Bond purchases. But whether this will happen before or after the new year remains to be seen. The bottom line is that home loan rates remain attractive compared to historical levels, and now remains a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients.             Forecast for the Week               The upcoming week's economic data is crammed into three trading days, given the Thanksgiving Holiday. Housing data is plentiful this week and kicks off on Monday with Pending Home Sales. Tuesday brings the S&P/Case-Shiller Home Price Index, as well as September and October data for Housing Starts and Building Permits. September's Housing Starts and Building Permits were never reported due to the government shutdown. Tuesday also brings a read on Consumer Confidence, with the Consumer Sentiment Index following on Wednesday. Also on Wednesday, look for Weekly Initial Jobless Claims, Durable Goods Orders, and news from the manufacturing sector with Chicago PMI. All capital markets will be closed on Thursday in observance of Thanksgiving. The Bond markets will be open on Friday and will close at 2:00 p.m. ET, while Stocks are also open and will close at 1:00 p.m. ET. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond that home loan rates are based on. 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. 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 were 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, it was a volatile week for Bonds as the Fed minutes renewed talk of tapering the Fed's Bond purchase program. I'll be watching the markets closely in the coming weeks as more discussion on this topic is sure to continue. Chart: Fannie Mae 4.0% Mortgage Bond (Friday Nov 22, 2013)             The Mortgage Market Guide View...                       Defeat the Treat! 3 Tips to Avoid Extra Holiday Pounds at the Office The trouble begins about a week before Halloween–creepy containers of candy cajole us from every corner of the office, with leftovers long into November! By the time serious holidaymaking comes around, there's not just candy to deal with but cookies, pie, cake, fruitcake, banana/zucchini bread, and treats ad infinitum. Not to mention holiday parties and the very feast days themselves. Avoiding holiday weight gain at the office takes more than maintaining a one-jelly-bean-per-page limit while you photocopy. Here are some great holiday weight-saving tips: STEP 1: Draw your line in the sand before the goodies arrive. Knowing how much you can afford to indulge–specifically–is critical to success with any plan, but especially your diet. How will you know when you've had enough unless you set a specific limit? Studies say be specific about your limits and you are two to three times more likely to meet them! STEP 2: B.Y.O.S. Yes, bring your own snacks! Once you've reached your limit, you might actually still be hungry. So give yourself a huge boost by having a supply of healthy, flab-neutral things to eat instead. Keep fruit, nuts, and good proteins on hand at all times, so you have somewhere to turn when temptation strikes. According to one study, thinking exclusively about not eating something increases the likelihood you'll actually eat it! STEP 3: Enjoying yourself gives wings to your every endeavor, including weight management. Taking time to relish your experiences is the key–that means don't eat in meetings or when you're busy, don't swallow things whole or inhale them thoughtlessly. Researchers suggest mindful enjoyment actually increases your happiness, and that's great news for growing great habits, including self-control. Help someone else defeat the treat! Feel free to pass these tips along to your team, clients, and colleagues. Economic Calendar for the Week of November 25 - November 29 Date ET Economic Report For Estimate Actual Prior Impact November 25 10:00 Pending Home Sales Oct NA   -5.6% Moderate November 26 08:30 Housing Starts Sept 915K   891K Moderate November 26 08:30 Housing Starts Oct NA   NA Moderate November 26 08:30 Building Permits Sept 930K   918K Moderate November 26 08:30 Building Permits Oct NA   NA Moderate November 26 09:00 S&P/Case-Shiller Home Price Index Sept NA   12.8% Moderate November 26 10:00 Consumer Confidence Nov NA   71.2 Moderate November 27 08:30 Jobless Claims (Initial) 11/23 NA   323K Moderate November 27 08:30 Durable Goods Orders Oct NA   3.8% Moderate November 27 08:30 Chicago PMI Nov NA   65.9 Moderate November 27 10:00 Consumer Sentiment Index (UoM) Nov NA   72.0 Moderate       test test test     The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. 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, there is no guarantee it is without errors.   As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.   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.     You received this email as a result of your ongoing business relationship with Michael Magnabousco. 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