For the Week Ending March 31, 2017
Consumer confidence surged to a 16+-year high in March. Consumer optimism is supported by a strong labor market and a positive economic outlook.
The GDP increased 2.1% in the 4th quarter, signaling economic growth. Consumer spending accounts for more than 2/3rds of U.S. economic activity.
Some Fed members made comments this week supporting more than 3 rate hikes this year. The majority still favor a gradual approach to increases though.
Pending home sales rose 5.5% in February, a 2.6% increase year-over-year. Warm weather and potentially higher interest rates have been said to be the cause.
Home prices roared to the highest levels in nearly 3 years as demand remains strong. Tight inventory continues to be an issue, supporting increasing prices.
Warm winter weather also has led to a surge in new home construction. However, homebuilders are struggling to find enough workers to meet demand.
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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