Financial Update by Maurice Soussé

Interest rates took a hop up this morning on lower unemployment numbers. With payroll numbers getting better, the taper talk has begun again. There are 50% of economists saying the FED won’t taper until March. The other 50% saying the writing is on the wall and they may even taper in December. December???? Scrooges…Either way, you have to take this as the first and most obvious warning that rates will increase from today’s levels and it will happen very soon!! There is not a bond trader out there that doesn’t have 3.5% as an estimate on the 10 year treasury in their minds by the middle of 2014. That would mean interest rates would be about .375% to .5% higher than current rates.

Make NO mistake about it. Rates are trending up.

I have to throw this story in today. You may not have seen this but, Starbucks offered a $400 gold gift card in which only 1000 of them were made and offered. They sold out in SECONDS on gilt.com and are now on Ebay for as high as $2500 per card!!!!!!!! Can you believe it? Take a look at the story at http://www.cnbc.com/id/101253131

This week I wanted to share some victories on loans we had that may help your clients.

  1. Closed a VA loan in 18 days start to finish after another lender had it for 5 weeks
  2. Closing a conventional purchase in 21 days on a property with only 39% owner occupancy in the condo tract
  3. Closed a loan for a self employed borrower using only 12 months bank statements (no tax returns)
  4. Closed a loan for a client who had a short sale two years ago.
  5. Closed a Jumbo 15 year fixed rate on a $1 million dollar loan at 3.625%. Yes, that is 3.625%!!

Hopefully these types of things can help a client you may have. Let us know if you have any strange scenarios. We probably have a solution.

I love the quote from Margaret Les Runbeck who said “Happiness is not a station to arrive at, but a manner of traveling”. Stop and count your blessings for just one minute. I am sure they are great.