Financial Update by Maurice Soussé

rates look to be holding steady for now as Chairman Yellen stated yesterday in the FOMC meeting. The job growth in our country is just not as good as some tout it to be. 800,000 jobs were added over the last year, but, that same number of people dropped off the unemployment dole forcing them to take jobs at part time 30 hours or less on minimum wage jobs. This distorts the number and real wage increase is just not happening. Multitudes of people have been stating rates have to go up this year but in reality, with the European Union experiencing true deflation, there is no sign of a true rate hike in the near future.

Take a look at our 15 year fixed rates. They are incredible right now and something for clients to truly ponder. The payment is higher, but the rates are so low that yields on other investments can make more than the cost of the interest.