Financial Update by Maurice Soussé

The FED held interest rates this week which is great news for borrowers. We had a drop in rates yesterday after the FED’s announcement. This has driven the 10 Treasury bonds down to 1.84% this week.

I wanted to share a great scenario with you that we just closed. A client had a home bought in 2005. The value is now back a bit and they are now even on their equity. We were able to refinance their loan at 100% loan to value consolidating their first and second mortgage on a VA loan at 3.75% with no points nor fees to the veteran. This is an underserved market in which we need to make it a habit to ask if our borrowers if they are Veterans. If so, VA loan programs are a great way for them to save money and use their benefits bestowed upon them for their service to us.

Marla Gibbs said “I truly believe that everything that we do and everyone that we meet is put in our path for a purpose. There are no accidents; we’re all teachers – if we’re willing to pay attention to the lessons we learn, trust our positive instincts and not be afraid to take risks or wait for some miracle to come knocking at our door.”