Financial Update by Maurice Soussé

Happy Almost Friday,

Well, the 10 year treasury is just hovering at that 3.00% mark. All week it has dipped a tad below, bounced up and gone back down. This range has brought back some of the best interest rates we have seen in a very long time!!! You must take a look. We have true 30 year jumbo fixed rates in the high 4’s!!!!!!!!! Yeow.

What a time to be a buyer. Let me illustrate:

1. 30 Year Fixed at 6.5% (good overall interest rate) 6.71 APR on $750,000 Loan Amount: $4740 per month

2. 30 Year Fixed at 4.875% (today’s rate) 5.02% APR on $750,000 Loan Amount: $3969 per month

= Monthly savings is $770 per month right now!!!

You can see the tremendous opportunity as a buyer. Sales price down from 2007 highs and rates at incredible low’s. If you have a buyer who is sitting on the fence right now, show them this grid. Quite incredible!! We even have people refinancing and drawing money out at these low rates and investing in returns higher than these rates. They are making money on the banks money!!!

Remember, “Excellence is not a skill. It is an attitude” –Ralph Marston