For The Week Ending May 8, 2015

For the Week Ending May 8, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Bond markets around the world, including the U.S., are selling off in a global bond rout. This bond sell-off is a factor in the sudden increase in mortgage rates.

  • The Fed is expected to view weak Q1 data as temporary and to dismiss it. That makes them likely to raise policy rates sooner if they see economic improvement.

  • Oil prices have rebounded toward 2015 highs despite ample supply. Higher oil prices are inflationary and can contribute to higher mortgage rates.

  • Higher rates haven't slowed purchase demand, as demonstrated by increased mortgage applications. Refinance applications, however, dropped dramatically.

  • Home prices increased in March for the 37th consecutive month on a year-over-year basis. Nationwide home prices are now within 10% of their pre-crash peaks.

  • Residential real estate investors are also struggling to find lower priced inventory. There are 63% more investors looking at $200,000+ houses this year than in 2014.

Why did the scarecrow get a raise?
He was outstanding in his field!


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.

Don S.Riggs
Area Manager NMLS ID # 132702
(303) 429-7121
NMLS ID # 6666 (
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 ( – Lender License and Broker License # MC3021; Envoy Mortgage Ltd d/b/a Envoy Mortgage, L.P.- WA Consumer Loan Company License # CL-6666 –

This is not a commitment to lend. Envoy Mortgage Ltd. - NMLS # 6666