For the Week Ending August 26, 2016

For the Week Ending August 26, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
A number of Fed officials have opined that it's time for the Fed to raise interest rates. Investors are waiting to hear Fed Chair Janet Yellen's opinion Friday.
 
Orders for durable goods rose for the second straight month, signaling increased business spending. Economic improvement like this is supportive of higher rates.
 
The labor market showed further improvement, with a drop in filing for unemployment benefits. A strong labor market could also contribute to higher rates.
New home sales unexpectedly rose in July, reaching their highest level in nearly 9 years. Sales were up an amazing 31.3% from a year a go.
 
Existing home sales were down slightly, however, as tight inventory remains an issue. Existing home sales had previously increased 4 straight months.
 
The housing market as a whole remains strong, supported by a tightening labor market, strong consumer spending, and low mortgage rates.
Two equally qualified job seekers apply for the same job. The hiring manager
gives them a written test to determine which one to hire.Both score a 9 out of 10
on the test; however, the manager decides to hire the first applicant.
The rejected applicant asks, "We both got nine questions correct. May I ask why
you decided this way?"
The hiring manager replied, "Your fellow applicant wrote 'I don't know' for
question five. You wrote, 'Neither do I'."

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