For The Week Ending November 6, 2015

For the Week Ending November 6, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • The number of economists predicting a Fed policy rate increase in December continues to rise. Markets are starting to prepare now, contributing to higher rates.

  • Although jobless claims recorded their largest increase in 8 months, they remain below 300,000. The overall sentiment is a healthy labor market, bad for rates.

  • Increased manufacturing productivity reported for the 3rd quarter signals economic improvement. A strong economy increases the likelihood of higher rates.

  • At 9.3% of the market, distressed sales (including REO and short sales) continue to drop. If current trends continue, they will reach 2% of the market by mid-2018.

  • Home prices nationwide rose by 6.4% in September. CoreLogic's HPI forecast projects home prices will rise 4.7% year-over-year from Sept. 2015 to Sept. 2016.

  • Construction spending for single-family homes rose 1.3% in September. Private residential construction spending rose to the highest level since January 2008

A parent got a call from a freshman college student about a week after dropping
them off. The student was out of clean clothes and doing laundry for the first time
and asked, "What setting do I use on the washing machine?"
"It depends," said the parent. "What does it say on your shirt?"
The student replied, "University of Colorado!"

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.

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