Financial Update by Maurice Sousse

With President Mubarak of Egypt stepping down today, Wall Street is cheering. The upheaval in the country causes our markets unrest as it can greatly affect the price of oil. The 10 year treasury bond is down from yesterday but, rates are up about a .25% from last week. The weekly jobless claims released yesterday signaled the start of a comeback in the job market. The employment numbers are the single greatest factor holding rates down. Once unemployment decreases, the FED will slow the purchasing of Treasury Bonds and rates will rise, just as we are starting to see now.

Our fixed rates are still fantastic and overall the purchase market is very active!! Buyers are seeing the value of purchasing today while rates are still down.

We have had many calls lately for Canadian Buyers. Please note that the current investor we have has a minimum loan amount of $300,000, which means a value or price of $600,000. We are working with another investor right now to set up a pilot program with lower loan amounts. More to follow in a week or so for that.

Henry Ford said “Whether you think you can or whether you think you can’t, you’re right’. You can do anything you set your mind to.

Have a blessed weekend.