For the Week Ending May 15, 2015
Stagnant business inventories point to a contraction in GDP. Rates would normally decline on the news but instead are being driven higher by the global bond sell-off.
*Note: The rate gauge shows weekly movement. Rates have moved up incrementally, so a week's change does not always register on the gauge.
Bond market sell-offs are pushing yields higher across the globe. Concurrent selling in the mortgage bond market pushes mortgage rates higher too.
The price of goods at the wholesale level fell in April, a sign that inflation is still not a threat. Without inflation, the Fed should be in no rush to tighten monetary policy.
NAR continues to warn Realtors about the upcoming TRID changes. Richard Cordray says that there are no plans to delay the deadline on the new forms.
Foreclosure activity continued to decline in March. Completed foreclosures are now down over 65% from their peak in September 2010.
Access to credit increased in April according to the MBA's Credit Availability Index. Increased access to credit was led by new VA, FHA 203K, and Jumbo offerings.
Two antennae met on a roof, fell in love, and got married. Their wedding ceremony wasn't fancy; however, the reception was excellent.
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