For The Week Ending August 28, 2015

For the Week Ending August 28, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Stock market volatility shook the markets with record lows and record highs. The volatility may delay the Fed's intended policy rate increase until later this year.

  • The number of unemployment claims fell more than expected, pointing to a steadily firming labor market. Labor improvement supports Fed policy changes.

  • The second estimate for Q2 GDP is sharply higher than the first estimate and stronger than expected. Good economic news can lead to rate increases

  • New home sales rose in July, recovering from a slide in purchases in June. Demand is attributed to a healthy job market and low
    mortgage rates.

  • Average median home prices rose in July 4.5% year-over-year. By most estimates, this is a more sustainable pace than 2014's double-digit increases.

  • Consumer confidence rose to a 7 month high in August. Confidence suggests strength in the housing markets.

A frog goes into a bank, and hops up on the desk of theloan officer. ''Hi,'' he
croaks. ''What's your name?''
The loan officer says, ''My name is John Paddywack. May I help you?''
''Yeah,'' says the frog. ''I'd like to borrow some money.''
The loan officer finds this a little odd but gets out a
form. ''Okay, what's your
name?''
The frog replies, ''Kermit Jagger.''
''Really?'' says the loan officer. ''Any relation to Mick Jagger?''
''Yeah, he's my dad.''
''Hmmm,'' says the loan officer. ''Do you have any collateral?''
The frog hands over a pink ceramic elephant and asks, ''Will this do?''
The loan officer says, ''Um, I'm not sure. Let me go check with the bank manager.''
''Oh, tell him I said hi,'' adds the frog. ''He knows me.''
The loan officer goes back to the manager and says, ''Excuse me, sir, but there's a
frog out there named Kermit Jagger who wants to borrow some money. All he has
for collateral is this pink elephant thing; I'm not even sure what it is.''
The manager says: ''It's a knick-knack, Paddywack, give the frog a loan; his old
man's a Rolling Stone."

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