Financial Update by Maurice

Rates are up again for the third straight week in a row. Don’t panic though, they are still incredibly low and this is really the time for the buyers to get some great deals.

Investors flocked to stocks this week as better than expected job news hit the market. A report from payroll processing firm ADP showed a gain of 93,000 private sector jobs in November. That marked the 10th consecutive month of increases, and came in much better than the 58,000 increase than economists had forecast.

If news like this continues we will begin to see a rise in rates. So, it is a great to get into contract as the holidays come and a few less buyers are on the streets.

Take a look at the jumbo loans. The rates are incredible with fixed rates still in the 3’s for 5 and 7 year fixed rates.