Financial Update by Maurice Soussé

Wow!!!! Rates softened again this week due to so many factors. Russia in Syria, Automotive numbers for the quarter and most of all, what many economists call a global recession. The U.S. seems to be the only country on an expansion course at the current time. As the world’s economic leader, we are still affected by economic shrinkage of other powerful countries. The big question still lies in the FED’s decision to raise rates…will it be by year’s end or will they wait until 2016?

Did you think you would see rates in the 2’s again????? Take a look at the conforming 15 year fixed. Incredible!!!! 2.875% fixed forever. This is a second chance to capture great rates.

One of our loan officers came to me today anticipating a large problem on a loan. All ended up just perfect, the borrowers signed and are on their way to closing. All good. It made me think of a great saying…. “my life has been filled with terrible misfortune, most of which never happened”. It is a great reminder that we can sometimes be our own worst enemy. Stay positive…the alternative is bleak.