For the Week Ending July 29, 2016

For the Week Ending July 29, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
The Fed kept policy rates the same at this month's FOMC meeting.Economists speculate we won't see a Fed rate increase until at least December of 2016.
 
Fed comments referenced a strengthening labor market. Jobless claims remained below 300,000 for the 73rd week, supporting their analysis
 
Consumer confidence remained steady in July, suggesting the economy will continue to expand at a moderate pace. This could contribute to higher rates.
Home prices rose 5.2% year-over-year in May, according to Case-Shiller.Home price appreciation is expected to continue with low rates and tight inventory.
inventory.
 
New single-family home sales hit an 8-1/2 year high in June. This suggests sustained momentum in the economy and could contribute to a Fed rate increase this year.
 
June's pending existing home sales were up only 0.2% over May's. Inventory conditions are likely to blame for the slow increase, as demand remains strong.
There's a cop on the side of the road, checking for speeders. A car flies by and
the cop sees 12 penguins in the back of the car. The cop hits his sirens and pulls
the guy over, runs up to the window, and says, "What are you doing with 12
penguins in the back of your car?"
The guy says, "I dunno."
Cop replies, "Well I think you should take those penguins to the zoo."
"OK," the guy replies.
Next day, the cop's on the side of the road again. Same car flies by, 12 penguins
in the back of the car. Cop hits the sirens, pulls the guy over, runs up to his
window, and says, "I thought I told you to take those penguins to the zoo!"
Guy replies, "I already did. And now we're going to the movies.

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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