For the Week Ending September 9, 2016
- Weak manufacturing reports pushed odds of a September Fed rate hike to a 3-week low. Previously, economists had put the probability of a hike near 55%.
- Although a September hike is no longer considered likely, polls say the Fed may act in December. Expect the Fed to monitor economic data to make a decision.
- The labor market remains strong, with jobless claims decreasing to the lowest level since July. A strong labor market is supportive of a possible Fed rate hike.
Increasing for the 3rd consecutive month, 34% of consumers polled say it is a good time to buy a home. However, only 15% said it was a good time to sell.
The strong labor market has home buyers feeling more secure than ever. More than 73% of those polled were not concerned with the possibility of losing their job.
The trend in new home construction is for more bedrooms. Homes with 3 or fewer bedrooms have decreased, while homes with 4 or 5 bedrooms have increased.
Luke comes home from his first day of school, and his mother asks, "What did you learn today?"
"Not enough," Luke replies. "They said I have to come back tomorrow!"
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.
Area Manager NMLS ID # 132702
NMLS ID # 6666 (www.nmlsconsumeraccess.org)
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