FOR THE WEEK ENDING SEPTEMBER 15, 2017

For the Week Ending September 15, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets
  • Stocks soared to new record highs this week, in part because estimated financial losses from Hurricane Irma dropped from $200 billion down to $50 billion or less.

  • Higher gas prices and rent increases helped consumer prices jump in August, pointing to firming inflation. The Consumer Price Index rose 0.4% over July.

  • Low inflation, despite a strong labor market, is seen as causing the Fed to delay raising policy rates for a third time this year. It also supports low mortgage rates.

  • Mortgage applications jumped this week, as buyers took advantage of low rates. Refinance applications were up 9%, and purchase applications were up 11%.

  • CoreLogic reports that June mortgage delinquencies were the lowest in nearly a decade. Only 4.5% of outstanding mortgages were in some stage of delinquency.

  • Fannie Mae's latest survey shows a record number of consumers who say now is a good time to sell a home. Over 36% agreed, up 8% from July's survey.

Our computers went down at work today, so we had to do everything manually.
It took me 20 minutes to shuffle the cards for Solitaire

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