Financial Update by Maurice Soussé

Happy Friday!!

Rates are hanging on this week and fairly flat given the large jump in the 10 year treasury bonds. The 10 year T Bill has jumped from 1.99 last week to 2.09 this week with barely a movement in rates. Dennis Lockhart, the President of the Atlanta Fed stated the probability of a FED rate hike in October or December despite economic conflicts in data. With the world slowdown in production, the US must be careful of keeping our rates too low while our economy improves. That could create inflation.

I value your opinion and would like a consensus…If the FED hikes rates a .25% this year, do you think mortgage rates will go up sharply, if at all? Do you think it would create a slowdown in housing? Let me know.

Now on to good stuff…so far the first week of TRID hasn’t been too bad. The main thing we have been chasing is the cost of HOA Transfer fees and costs, which we now must disclose.

Remember, there is good news with TRID. We can order the appraisal right away once we have the signed intent to proceed and the Loan Estimate returned from the borrower. This saves two to three days.

Have you heard of Lao Tzu? I hadn’t but I valued the quote of “Kindness in words creates confidence. Kindness in thinking creates profoundness. Kindness in giving creates love”. Do something great for someone this weekend and see how it makes you feel.

Have a blessed weekend and let us know if we can help in any way.