For The Week Ending November 13, 2015

For the Week Ending November 13, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • October's jobs report supports speculation the Fed will raise policy rates at the December FOMC meeting. Unemployment improved and job growth surged.

  • Steady jobless claims this week were further evidence of a healthy labor market and the growing likelihood of the long anticipated Fed policy action.

  • Mortgage rate markets are already moving in advance of the December Fed meeting. Increases so far are small and can actually motivate buyers to action.

  • Encouraging potential buyers to move off the fence, rents are increasing in all price brackets. Rents rose an average of 6.2% year-over-year.

  • A 12% rise in foreclosures in October is attributed to lenders acting before the holiday moratoriums. Foreclosures have been declining steadily for several years.

  • Purchase mortgage applications appeared unfazed by the recent climb in rates, improving .1% week-to-week. That's an 18% increase over this week last year.

I've taken up speed reading. I can read "War and Peace" in twenty seconds. It's
only three words, but it's a start.

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