For The Week Ending October 9, 2015

For the Week Ending October 9, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • The Labor Market Conditions Index for September was 0, signaling a weakening market. This could help keep rates low.

  • Low inflation and global economic weakness, both good for rates, are a concern to the Fed. Many economists think the Fed won't raise policy rates until 2016.

  • Weak jobs data last week points to a cooling off of the U.S. economy. While more data is needed to support this speculation, it could be helpful for rates.

  • A reported survey of property managers found rents increasing by up to 8% in the next year. Primary reasons cited were increased demand and low inventory.

  • Mortgage applications jumped by 25% last week. The unusually large movement is being attributed to low rates and the rollout of new TRID regulations.

  • Per Fannie Mae's latest survey, consumer confidence in both home buying and selling increased. Of those surveyed, 64% say it is a good time to buy a home.

Three vampire bats live in a cave surrounded by three castles. One night, the bats bet on who can drink the most blood.

The first bat comes home with blood dripping off his fangs. He says, "See that castle over there? I drank the blood of three people."

The second bat returns with blood around his mouth. He says,"See that castle over there? I drank the blood of five people."

The third bat comes back covered in blood. He says, "See that castle over there?"
The other bats nod. "Well," says the third bat, "I didn't."

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Sincerely,
Don S.Riggs
Area Manager NMLS ID # 132702
(303) 429-7121
driggs@envoymortgage.com
NMLS ID # 6666 (www.nmlsconsumeraccess.org)
envoymortgage.com
Envoy Mortgage LTD, NMLS #6666

All applications are subject to credit approval. Program terms and conditions are subject to change without notice. Some products may not be available in all states. Other restrictions and limitations may apply. This is not a commitment to lend. Envoy Mortgage Ltd. #6666, 5100 Westheimer Rd., #320, Houston, TX 77056, 877-232-2461; AR Banker/Broker/Servicer License #103315 - AZ Mortgage Banker Licensee – License #0908096; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #413 0597; CO Mortgage Company Registration # 6666, Regulated by the Division of Real Estate; Licensed by the Delaware State Bank Commissioner Licensed Lender Licensee #011264; Georgia Residential Mortgage Licensee License #23619; Illinois Residential Mortgage Licensee – License #MB.6759338; MA Mortgage Lender Licensee – License #M C6666; MA Mortgage Broker Licensee – License #MC6666; Licensed by the Mississippi Department of Banking and Consumer Finance License #6666; Envoy Mortgage Limited Partnership – Licensed by the New Hampshire Banking Department License #14552-MB; Licensed by the N.J. Department of Banking and Insurance NMLS #6666; Licensed Mortgage Banker – NYS Department of Financial Services, License #B500979, 746 Merrick Rd., Baldwin, NY 11510; OH Mortgage Broker Act Certificate of Registration # MB.804190.000, SM.501928.000; OR Mortgage Lending Licensee #ML-3933; Rhode Island Licensed Lender – License # 20092627LL; Rhode Island Licensed Loan Broker – License # 20122861LB; TX Mortgage Banker Registration- NMLS #6666; TX Regulated Loan License #42377. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas; Virginia NMLS ID#6666 (www.nmlsconsumeraccess.org) – Lender License and Broker License # MC3021; Envoy Mortgage Ltd d/b/a Envoy Mortgage, L.P.- WA Consumer Loan Company License # CL-6666 – http://nmlsconsumeraccess.org

This is not a commitment to lend. Envoy Mortgage Ltd. - NMLS # 6666