FOR THE WEEK ENDING DECEMBER 22, 2017

For the Week Ending December 22, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets
  • The final version of the tax reform plan has been approved by both chambers of Congress. President Trump should sign it into law on or before January 3rd.

  • Third quarter economic growth estimates were lowered slightly from 3.3% to 3.2%. Even still, the economy grew at its fastest pace in more than 2 years.

  • Despite a jump in the number of filings for unemployment benefits last week, the underlying trend in jobless claims remained consistent with a strong labor market.

  • Existing home sales hit an 11-year high in November, despite tight inventory. They rose 3.8% on a year-over-year basis, rising for the 3rd straight month.

  • New home starts were above expectations for November, at 1.297 million (annualized rate). Single-family housing units surged to a more than 10-yr high.

  • Pointing to further future increases in inventory, single-family home permits rose 1.4% to 862,000. This is a level not seen since August 2007.

Why does Scrooge love reindeer so much?
Because every single buck is deer to him!

Please note: We will not publish The Markets in a Minute during Christmas week. Hope your holiday is great, and we'll see you in the new year.

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