For the Week Ending August 12, 2016

For the Week Ending August 12, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
The economy grew by 1.2% annually during the second quarter, lower than the 2.6% expected. Consumer spending was responsible for most of the increase.
 
Though the economy is only moderately improving, the lab or market continues to show strength. New jobs were up, and layoffs fell to a near 2-year low in June.
 
While an improving economy and strong labor market could lead the Fed to consider raising policy rates, inflation remains benign, helping keep rates low.
Foreclosure inventory declined yet again in June to the lowest rate since August 2007. Foreclosure filings were also down 6% from May and 19% over a year ago.
 
The median existing single-family home price increased in 83% of measured markets in the second quarter, with 14% seeing double-digit increases.
 
Supply levels could be holding back sales. Many listings in a majority of markets are seeing multiple offers, and inventory is down to 4.7 months.

"I got let go at work today.

My boss said my communication skills were awful.
I just didn't know what to say to that

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


Email: don.riggs@cardinalfinancial.com

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