For The Week Ending October 16, 2015

For the Week Ending October 16, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Producer prices recorded their largest decline in eight months, possibly a sign the economy is losing momentum. This raises doubts about a Fed policy rate hike.

  • Consumer prices dropped in September on cheap gasoline, but prices of other goods increased. Inflation remains low, which is supportive of lower rates.

  • Conversely, jobless claims were at a 42-year low this week. However, wage growth continues to be a problem, another factor that could support lower rates.

  • Last week saw mortgage applications spike ahead of implementation of TRID regulations. This week saw purchase mortgage applications fall by 34%.

  • More inventory may soon be hitting the housing market. Bank repossessions of foreclosures jumped 66% year-over-year in the third quarter.

  • A recent index shows residential property values increased 5.5% year-over-year in August. Many markets still have room to rise before reaching 2006 peak levels.

A very successful businessman had a meeting with his new son-in-law. "I love my daughter, and now I welcome you into the family," said the man. "To show you how much we care for you, I'm making you a 50-50 partner in my business. All you have to do is go to the factory every day and learn the operations."
The son-in-law interrupted, "I hate factories. I can't stand the noise."
"I see...," replied the father-in-law. "Well, then you'll work in the office and take charge of some of the operations."
"I hate office work," said the son-on-law. "I can't stand being stuck behind a desk all day."
"Wait a minute," said the father-in-law. "I just make you half-owner of a moneymaking organization, but you don't like factories and won't work in an office. What am I going to do with you?"
"Easy," said the young man. "Buy me out."

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