Financial Update by Maurice Soussé

Happy Friday,

How about 2.75% fixed rates today??? Joke? Hardly. Take a look at the 15 year fixed conforming rates. 2.75%. Wow.

The bond markets have a complete flat line right now showing no signs of life, up or down. The 10 year treasury bills have been as flat as a pancake and just treading water. Maybe this lack of excitement is good for a change; especially when rates are this low.

We do have a heck of a week coming our way as new Treasury Auctions, FOMC Announcements, Chairman Bernanke and the first quarter GDP (Gross Domestic Product) numbers will be released. Let’s call today the calm before the storm.

A quick reminder about flip properties. If a property was purchased by the seller of the transaction in the last 90 days, we need to know upfront. Several rules are in place and certain investors on the secondary mortgage markets will not allow a “flip” so it is important for us to know this right up front. If we don’t know in advance then we may have to order a different appraisal and it can delay the transaction.

Vince Lombardi said “Individual commitment to a group effort – that is what makes a team work, a company work, a society work, a civilization work”. Let us know how we can help your team succeed.

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