Financial Update by Maurice Soussé

I know I keep saying it, but, I don’t know if rates can go any lower. The closing bell today on the 10 year treasury bond was 1.84%. Incredible!!!!!!!!!! These interest rates are at all-time lows. Couple this with low inventory and we have a market about to make a big change.

The number one complaint we hear from agents is that we are short on “real” inventory; properties that are able to go into escrow this weekend and close in 30 days. This is stage 1 to an upward movement in values…not next week, but, as we move forward. Watch and see.

Take a look at the 30 year fixed rates. With 25% down or more and a 740 or higher FICO the 30 year fixed rate on a conforming loan at no points is 3.75% on a purchase. Yeow…

BC Forbes said “It is only the farmer who faithfully plants seeds in the Spring, who reaps a harvest in the Autumn” Keep farming.

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