Financial Update by Maurice Soussé

Happy Memorial Day,

What a blessing to be in the greatest country in the world. Thank God for our troops and the courage and protection they provide. For that I am truly thankful.

I have spoken with many people who are playing hooky tomorrow afternoon, so it is timely to get rates to you today before the long weekend. The 10 year treasure continues to slide to record lows closing today at 3.06%. While we may all feel this is super for our mortgage rates, the real truth is that the low rates are due to a slowdown in economic growth. Investors head for the safety of Treasury Bills as they feel the government backing of these bonds is safer than the volatility in the stock market. The latest GDP (Gross Domestic Product) report proves the economy is still in a “weak” phase.
Please take a look at these rates. They are near the record low’s we saw last year so borrowers have the perfect formula to acquire great properties. Discounted values + low rates= great long term investments. Do I hear rental properties????? Now may be a great time.

I hope that you have a great Memorial Day weekend planned.

In light of Memorial Day our quote of the week: “True heroism is remarkably sober, very undramatic. It is not the urge to surpass all others at whatever cost, but the urge to serve others at whatever cost.” Arthur Ashe