For the Week Ending January 13, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Wholesale inventories rose in November, slightly more than previously reported. The increase was the largest gain in 2 years and supports economic growth.

  • Rising wages and expected tax cuts are expected to boost consumer spending and support economic growth through much of this year.

  • A tighter labor market and anticipated improvements are expected to stoke inflation. Inflation could contribute to rising rates through 2017.

  • Purchase mortgage applications were up 6% for the week as buyers head back to the housing market after the holidays. It also helps that rates have improved.

  • According to CoreLogic, foreclosures are approaching pre-crisis levels. November foreclosures numbered 26,000, down from 35,000 in November 2015.

  • In an NAHB survey, 70% of homebuyers preferred an open floor plan home. Builders are delivering, with 84% reporting the use of open or partially open plans.

Paraskevidekatriaphobia (fear of Friday the 13th) Fun Facts

1. 90% of US skyscrapers do away with floor number 13, according to reports by the Otis Elevator Company, the world's largest elevator manufacturers.

2. The 32nd President of the United States, Franklin Roosevelt, never travelled on a 13th and refused to have a meal with 13 people at the table.

3. The deadliest associations with number 13 are the facts that there are 13 stairs leading to the gallows; the blade in a guillotine fell from a height of 13 feet; and a hangman has 13 knots in a hangman's noose.

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.

Don S.Riggs
Area Manager NMLS ID # 132702
(303) 429-7121
NMLS ID # 6666 (
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 ( – Lender License and Broker License # MC3021; Envoy Mortgage Ltd d/b/a Envoy Mortgage, L.P.- WA Consumer Loan Company License # CL-6666 –

This is not a commitment to lend. Envoy Mortgage Ltd. - NMLS # 6666