For The Week Ending January 15, 2016

For the Week Ending January 15, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
Stocks have started the year off with the worst performance ever, causing traders to seek safety in bonds, including mortgage bonds. This has helped rates.
 
Concerns over the world's second largest economy, China, have contributed to poor stock performance. China's economic struggles support low mortgage rates.
 
Dropping oil prices have also been a factor. Poised to fall below $30 a barrel, declining oil prices are disinflationary and contribute to stock market weakening.
 
Buying a house on Amazon? Companies like Ten-X are looking to help brokers offer real estate investors the ability to buy properties with the click of a mouse.
 
NAR's chief economist, Lawrence Yun, expects 2016 home sales to improve over 2015 by 1-3%. 2015 was the best year for housing in nearly a decade.
 
Mortgage purchase applications soared, up 74% over the previous week. Purchase applications were also 19% higher than during the same week in 2015.
As two college students sat talking, their conversation drifted to cooking.
"I got a cookbook once," said one, "but I could never do anything with it."
"Too much fancy work in it, eh?" asked the other.
"You said it. Every one of the recipes began the same way...'Take a clean dish.'

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