For the Week Ending June 10, 2016

For the Week Ending June 10, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
Economists judge the likelihood of a Fed policy rate increase at next week's meeting to be about 4%. Mortgage rates may benefit if the Fed fails to take action.
 
Wholesale inventories had their largest increase in 10 months. Rising inventories suggest a boost to economic growth and could contribute to higher rates.
 
Although last week's non- farm payrolls data was weak, jobless claims continued to fall. Overall signs point to a strong labor market, also supportive of higher rates.
Purchase mortgage applications jumped 12% for the week, as buyer demand remains strong. Low mortgage rates continue to support the housing market.
 
Rising values mean fewer homeowners owe more than their homes are worth. Less than 13% of homes countrywide have negative equity, down from 31% in 2012.
 
Inventory continues to move quickly, with properties on the market for an average of 39 days in April. About 45% of properties were on the market less than a month.
 
This morning a man knocked on my door and asked for a small donation toward
the town swimming pool. Being the generous type, I gave him a glass of water

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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