For the Week Ending August 19, 2016

For the Week Ending August 19, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
Minutes released from last month's FOMC meeting show the Fed is divided on the need to raise rates. Ultimately they agreed to monit or economic conditions further.
 
Consumer prices in July were unchanged from June, indicating no inflation. Without inflation, the Fed will typically hesitate in raising policy rates.
 
However, jobless claims fell more than expected this week, reinforcing views of labor market strength that could encourage the Fed to raise policy rates sooner.
Mortgage applications for home purchases were down slightly for the week but were 10% higher than the same week a year ago. Mortgage rates remain low.
 
Housing starts climbed to the highest level since February, with a slight increase in single-family homes. Homebuilders appear optimistic that sales will continue to rise.
 
Multi-family home construction should continue to increase. Building permits issued for multi-family homes rose 6.3% to a 441,000-unitpace in July.
A police recruit was asked during the exam, "What would you do if you had to
arrest your own mother?"
He said, "Call for backup!"

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

Corporate NMLS ID # 32416 | Branch NMLS ID # 1863678 | Don Riggs NMLS ID # 132702 NMLS Consumer Access AZ 0914009 | CA CA-DOC132702-Licensed by the Department of Business Oversight.| CO LMB100011249 | FL MB10004485 | KS LO.0025337 | MN MN-MLO-132702 | NE NE132702 | NM NM132702 | TX 132702 | VA MLO-6454VA | WY #542 | Washington MLO-132702 Licensed by The Division of Real Estate Terms of Use State Disclosure Requirements Texas Borrowers Nations Lending Nations Lending Privacy Policy Privacy Policy Security Licensing