Financial Update by Maurice Soussé

Happy Friday,

May I suggest you NEVER go on vacation. It is impossible to catch up when you get back. But, may I say that www.SeaIsland.com in Georgia is quite a traditional and lovely place to visit.

It seems like I was gone for a few days and the world changed. All of the sudden the EU (European Union) creates a bail out plan and the rates jump a .25% in 1 hour. Then the Cool Aid wears off the next morning and they realize there is still quite a financial situation to deal with for Greece and Italy. Stock markets rally, rates move up and down due to huge volatility, and the fun continues.

Rates are back down after their mid-week jump and are pretty much at the same level from two weeks ago in the last correspondence sent.

Please note that the new HARP guidelines will be out in mid November. There is a lot of speculation on the changes, but, the final rules will be distributed at that time. I will for sure keep you updated so your clients will know the new rules. In the meantime, if you have any questions, please do not hesitate to call.

Quote of the week by Dr. Joseph Sommerville: “When you consistently maintain a positive frame of mind, you’ll become known as a problem-solver rather than a complainer. People avoid complainers. They seek out problem-solvers.”

Have a blessed weekend

Rates 102811, The Sousse Group, Luxury Irvine Condos