Financial Update by Maurice

If I were to have written this on Wednesday we would have bet that all of the rates would have been 5%. Luckily today the 10 year Treasury bond gave us the first day of reprieve closing down at 3.33%. This helped to soften rates a bit and keep us around 4.75% on average.

Did you know that January 1st brings about the new S.A.F.E. Act that requires all mortgage solicitors to be licensed within their states to originate mortgage loans? . On January 1st we anticipate the number of loan originators to drop by over 50% nationwide. This is actually a great thing as it will keep only true professionals in the business and eliminate part time or non educated loan officers from being involved in your transactions.