For the Week Ending January 6, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Despite the worst start to a year ever, U.S. stocks posted healthy gains in all three major indexes in 2016. Strong stock markets can pressure mortgage rates.

  • Markets forecast the Fed will raise policy rates twice in 2017. However, the Fed expects to increase policy rates 3 times. Either way, looks like rates will rise.

  • Minutes released from last month's Fed meeting show members are uncertain about how the Trump administration policies will affect economic growth.

  • Freddie Mac released information showing that more than 80% of the top 100 housing markets improved in 2016. The trend is expected to continue in 2017.

  • Home prices nationwide rose 7.1% year-over-year in November, according to CoreLogic. Prices are forecast to rise 4.7% from November 2016 to November 2017.

  • Smart-home tech continues to become mainstream, with 72% of households having some kind of smart product. Voice control is gaining popularity as well.

My goal for 2017 is to accomplish the goals of 2016, which I should have done in 2015 because I made a resolution in 2014 and planned them out in 2013.

Happy New Year. πŸ™‚

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 canΒ 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