For The Week Ending July 24, 2015

For the Week Ending July 24, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Low trading volume and lack of overseas concerns have led to mortgage bond market stability this week. Rates have been less volatile as a result.

  • Jobless claims fell to lowest levels seen since 1973. Positive jobs data supports the Fed's plans for increasing policy rates.

  • Oil prices have tumbled to the lowest prices since April. Combined with a strong dollar, this could offset recent employment data and help mortgage rates improve.

  • Existing home sales rose to their highest level in nearly 8-1/2 years in June. The strong housing market recovery supports a Fed policy rate hike this year.

  • Although higher prices should be prompting more homeowners to put their homes up for sale, tight supply of properties remains a constraint to the market.

  • Freddie Mac released their 2015 U.S. Housing Market Insight & Outlook for July. Both housing starts and prices are expected to continue to rise.

This Week's Stock Market Report...
Helium was up; feathers were down. Paper was stationary.
Fluorescent tubing was dimmed in light trading. Knives were up sharply.
Cows steered into a bull market. Pencils lost a few points.
Hiking equipment was trailing. Diapers remained unchanged.
Elevators rose, while escalators continued their slow decline.

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.

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