For The Week Ending October 23, 2015

For the Week Ending October 23, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • The European Central Bank left rates unchanged, hoping to fuel more economic growth overseas. Global economic weakness has helped keep mortgage rates low.

  • Unemployment claims were up slightly but still remain at healthy levels. Signs of a strong labor market could help the Fed decide to raise policy rates this year.

  • The Fed votes on rate policy next week. Despite the labor market, other economic predictions suggest policy may remain unchanged until December or later.

  • More homeowners are renovating their homes, with renovations running 2.8% higher than 2005 levels. Renovating is more popular now due to tight inventory.

  • Building permits were down slightly, but new housing starts were up 6.5% in September. New home construction may help resolve tight inventory concerns.

  • Builders are more optimistic about the housing market than they have been in 10 years. The NAHB homebuilders index rose to 64, 10 points higher year-over-year.

During my physical examination, my doctor asked me about my physical activity
I described a typical day this way:
"Well, yesterday afternoon, I took a five hour walk—about four miles—through
some pretty rough terrain. I waded along the edge of a lake. I pushed my way
through brambles. I got sand in my shoes and my eyes. I avoided standing on a
snake. I climbed several rocky hills. The mental stress of it all left me shattered. At
the end of it all, I drank eight beers."
Inspired by the story, the doctor said, "You must be one heck of an outdoors man!"
"No," I replied, "I'm just a lousy golfer."

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