For the Week Ending May 6, 2016

For the Week Ending May 6, 2016

Please enjoy this quick update on what happened this week in the housing and financial markets
 
 
Service sector gains in April signal economic optimism. Any expansion, real or expected, can cause rates to rise.
 
New orders for factory goods rose in March, and inventories increased after 8 months of declines. An upturn in manufacturing could also help the economy.
 
Despite good economic news, bonds and mortgage rates have moderated again lately. This is just the latest example of rates moving opposite of expectations
 

 

Construction spending in March increased to the highest level in 8 years. The prior month's number was also revised higher, a sign of sustained strength.
 
Purchase mortgage applications were up 13% over a year ago.Low rates have helped sustain demand for housing and increased home affordability.
 
Tight inventory has homeowners putting more money into remodeling. Whole- home remodeling projects were up 10% in 2016 over 2013.
"This week I'm taping a show full of pregnant moms and surprising them with big
gifts for Mother's Day. I hope it doesn't turn into Labor Day."
- Ellen DeGeneres

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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