Financial Update by Maurice Soussé

Treasury bond investor stayed with the safety of T-Bills after Chairman Bernake failed to announce any stimulus programs at the annual federal retreat in Jackson Hole, WY. The Fed chief said they will continue to do all that they can to support the fragile recovery of our current economy. Interest rates are almost the same as last week with little change from last Friday.

On a good note, even with the fully stuffed loan pipelines, we are continuing to receive loan approvals in about 5-6 business days. This is fantastic given the current low rates.

Remember, the new high balance loan limits start October 1st. Almost every one of our underwriters is now at the new lower levels due to the loan pipelines and turn times.

Our quote from Saint Teresa of Avila this week is “Be gentle to all and stern with yourself”. This weekend, be a tough negotiator, but, fair to both sides. All then win, which is your ultimate goal.