Financial Update by Maurice Soussé

Rates are higher today with the release of payroll numbers this morning. The unemployment rate fell to 7.8% which is the lowest rate since 2009, pushing up the 10 year treasury yield to 1.73% at the closing bell. Rates bumped between an .125% and .25% this week from earlier numbers on Tuesday.

The Dow Jones Industrial Average hit its highest number at 13,661 in the mid-day as investors were encouraged by the jobless claims. After lunch, they all calmed down and the DOW settled to a close of 13,610 for the week. It was still a great week for investors and rates.

Take a look at the jumbo 5/1 ARM. Did you know that our jumbo ARM can convert at the end of its fixed term to a remaining fixed rate for the duration of the loan without refinancing or qualifying? The rate for a conversion today would be 3.875% for example. It’s a great way for borrowers to go if they may not be in the property for more than 5, 7 or 10 years.

You’ve done it before and you can do it now. See the positive possibilities. Redirect the substantial energy of your frustration and turn it into positive, effective, unstoppable determination.
Ralph Marston

Have a blessed weekend and let us know if we can help in any way.