For the Week Ending July 15, 2016

For the Week Ending July 15, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
After huge losses following the Brexit vote, stocks hit record highs this week.Economic improvement fueling the rally could put upward presure on rates.
 
The labor market continued to show strength as jobless claims came in lower than expected. Claims were near the 43-year low of 248,000 touched in mid-April.
 
Producer prices recorded their biggest gain in a year in June, possiblysignaling inflationary pressure. Inflation could contribute to higher interest rates in the future.
After huge losses following the Brexit vote, stocks hit record highs this week.Economic improvement fueling the rally could put upward presure on rates.
 
The labor market continued to show strength as jobless claims came in lower than expected. Claims were near the 43-year low of 248,000 touched in mid-April.
 
Producer prices recorded their biggest gain in a year in June, possiblysignaling inflationary pressure. Inflation could contribute to higher interest rates in the future.
According to Mortgage Bankers Association estimates, new single-family home sales were up 8.6% in June and are 7% higher year-over-year.
 
NAR's latest HOME survey reports 62% of renters think now is a good time to buy a home. Also, 61% of home owners believe now is a good time to sell.
 
National average home prices have already climbed by over 5% in 2016. Economists predict strong home-price appreciation will continue this year.
 

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


Email: don.riggs@cardinalfinancial.com

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