For The Week Ending January 8, 2016

For the Week Ending January 8, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
For the Week Ending January 8, 2016 Concerns over severe weakness in the Chinese economy have contributed to the worst 3-day start for Wall Street since 2008. The unrest supports low rates.
Oil prices continue to drop, now to the lowest prices since April 2004. Cheap oil also hurts stocks, supplying support for mortgage bonds and low mortgage rates.
Minutes from the Fed's last meeting revealed concern over low inflation. While the Fed would like to see 2% inflation, low inflation is supportive of low rates.
Construction spending was down slightly in November, but still up 10.5% year-over-year. Residential construction was actually up slightly though.
The Case-Shiller Index indicates that the housing market is continuing to rebound. Home values are up 36% since reaching a bottom in 2012.
First-time homebuyers made up about 30% of the market in 2015. It is expected that number will increase in 2016 with more renters entering the market.
What's a foot long and slippery?
A slipper.

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