Financial Update by Maurice Soussé

Rates are up a touch this week as the 10 year treasury hit the highest levels in two years. Putting it to perspective, the 10 year treasury was above 4% just before the Great Recession and throughout 2005 and 2006. Mortgage rates were routinely higher than 4% and the market was robust and active.

The increase in rates signifies an improving economy. The legs holding the real estate market are strong and stable without the help of artificially held down rates by the FED.

Take a look at the jumbo ARM’s. Our 10 year is still great and the majority of clients are really leaning on this product. 10 years is an eternity on a mortgage loan.

Robert Collier said “There is little difference in people, but that little difference makes a big difference. That little difference is attitude. The big difference is whether it is positive or negative.”