Financial Update by Maurice Soussé

Rates are a bit lower this week as the 10 year treasury bills ended lower this week on tame inflation readings. This helped to drive down rates a bit.

Underwriting times are getting a tad better as there was an onslaught of files to the underwriters the last few days of April before the FED changes on mortgage originator compensation. Loan officers were throwing anything against the wall to get it in the system prior to that deadline in order to avoid new regulations. It seems we have passed that short congestion interruption.