Financial Update by Maurice Soussé

Where do we start??? Stocks? Treasuries? Yeow…. So you have two choices: 1) Invest in a stock market that has lost 1000 points in a week, or 2) invest in treasury bonds backed by the US government that just raised a debt ceiling or they wouldn’t be able to pay their bills. I’ll leave that one to you…

Rates are lower this week as investors did clamber to the safety of treasury bonds this week driving the 10 year yield lower and lower rates. Fixed rates are at incredible lows again. Please remember that this WILL increase underwriting times as the refinance customers will come out of the woodwork and bog the system down in turn times. We haven’t felt it yet, but, that will come over the next 10 days. Just be prepared.

Take a look at the jumbo 5/1 and 7/1 ARM’s as they are incredible. Really great stuff.

I thought the words of George Bernard Shaw fit best this week when he said “A government that robs Peter to pay Paul can always depend on the support of Paul”.