Financial Update by Maurice Soussé

Interest rates are flat from last week with a little downward movement in the 10 year T-Bills; but no movement to the mortgage backed securities. Rates are still great with rates hovering in the high 3’s.

Some BIG news for move up buyers. FNMA has waived the 30% equity rule for those that want to rent out their current home. The rule right now is that if you want to rent out your current residence, you must have 30% equity evidenced by an appraisal to be able to offset the payment with rents. That rule is now waived. Now we only need to receive a fully executed lease agreement and proof the deposit check is cashed. We can use 75% of the rents to offset the payment. This is great news for move up buyers!!!!

This week I have been reflecting about the abundant blessings I have been given. Joel Osteen said “When you focus on being a blessing, God makes sure you are always blessed in abundance.”