For The Week Ending September 18, 2015

For the Week Ending September 18, 2015

Please enjoy this quick update on what happened this week in the housing and financial markets
  • NOTE: At the time of this writing, the Fed announcement is still pending. Here are the factors that may have influence in their decision.

  • Consumers showed confidence by spending, as retail sales improved in August. Increases in spending could help the Fed decide to raise policy rates this week

  • Fewer new applications for unemployment this week also evidence economic strength. Jobless claims fell to the lowest level in eight
    weeks.

  • Whatever the Fed decides to do regarding policy rates this month, market volatility is expected to follow. Mortgage rates should remain relatively stable though.

  • New housing starts remained above a one million-unit pace for the fifth straight month. Strong demand for housing continues to require more new home building

  • Building permits increased 3.5% in August, signaling that more new homes will be built in the future. Single family permits rose to highest levels since January 2008.

  • Homebuilder sentiment is at a 10-year high. Strong demand for new homes continues to be fueled by a strong labor market and low mortgage rate.

Fresh out of business school, the young man answered a want ad for an
accountant. Now he was being interviewed by a very nervous man who ran a small
business that he had started himself.
"I need someone with an accounting degree," the man said."But mainly, I'm looking
for someone to do my worrying for me."
"Excuse me?" the accountant said.
"I worry about a lot of things," the man said. "But I don't want to have to worry about
money. Your job will be to take all the money worries off my back."
"I see," the accountant said. "And how much does the job pay?"
"I'll start you at one hundred fifty thousand."
"One hundred fifty thousand dollars!" the accountant exclaimed. "How can such a
small business afford a sum like that?"
"That," the owner said, "is your first worry."

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

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This is not a commitment to lend. Envoy Mortgage Ltd. - NMLS # 6666