Financial Update by Maurice Soussé

Good Evening,

Interest rates are pretty flat from last week fighting off the rise in the 10 year treasury yield closing today at 2.10%. That closing is much higher than last week, but, rates are basically flat.

The president of the St. Louis Federal Reserve Bank stated at a meeting today to Bloomberg that he did not expect a Quantitative Easing 3 to happen until the FED can see the Christmas sales numbers. He does not expect the US to go back into a recession unless something violent happens in Europe. He also stated he thinks that Italy can withstand higher interest rates that they have in place now.

Take a look at the 15 year fixed rate today. We have had several clients lock in at rates in the low 3’s and their house will be fully paid off in 15 years!!!! Nice…

In regards to jumbo rates, the 10 year fixed rate up to $4 million is at an incredibly low rate as well.

Remember what President Roosevelt said, “When you are asked if you can do a job, tell ’em ‘Certainly I can’ then get busy and find out how to do it”.

Have a blessed weekend.