Financial Update by Maurice Soussé

Please read this entire email as we have an important announcement today. FHA has lowered their MI premiums for case numbers effective January 26th or later. This is great news as FHA is a very important program for borrower with a very limited down payment, need a non-occupying co borrower or have credit scores that might be lower. The new premium has been lowered to .85% per year versus 1.35%. Good stuff!!

Stop and take a look at the fixed rates. They are so low. The 10 year treasury bill is hovering at 1.97% as I type this. Dropping below 2% is a big deal as it lowers our 30 year fixed mortgage rates. This downward pressure signifies a flight to safety in US Bonds. As Europe tumbles and oil prices fall, conservative investors are flocking to treasuries. This is a great time to let your borrowers know they can save thousands of dollars per year with these lower rates.

Bo Bennett said “Frustration, although quite painful at times, is a very positive and essential part of success”.