For the Week Ending July 10, 2015
Rates responded favorably to Fed minutes released this week. The FOMC gave hints that officials might delay increasing policy rates due to global concerns.
New applications for unemployment benefits rose to the highest level since February. A slowdown in the labor market recovery helps keep rates low.
Concerns overseas continue to affect interest rates. China's rout to their stock market has created fears globally and has helped keep rates low this week.
The Fed is finally feeling better about the housing market. "Signs of stronger housing activity were encouraging," said the minutes of the FOMC meeting.
Buying a home is still a good option compared to renting, even with increases in home prices. Rents have risen 15% since 2010 and are expected to keep rising.
Fannie Mae's monthly housing survey found homeowners believe now is a good time to sell. Strong job and income growth was cited as a factor.
A man in court one day decided to give the judge a hard time.
The judge asked the man, "Where do you work?"
The man said, "Here and there."
The judge asked the man, "What do you do for a living?"
The man said, "This and that."
The judge then said, "Take him away."
The man said, "Wait, Judge, when will I get out?"
The judge said to the man, "Sooner or later."
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.
Area Manager NMLS ID # 132702
NMLS ID # 6666 (www.nmlsconsumeraccess.org)
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