Aloha Friday,

Was 10,000 to good to hold?? Apparently so, but it does signify that investor confidence in US companies is back and stronger. The financial sectors got hit today as Bank of America showed larger than expected losses and GE beat earnings expectations but their revenue fell short of forecasts.

How does that help us? The rates went up Wednesday and Thursday this week as investors flocked to the stock market. Just as predicted, they were running back to the safety of treasury bonds today after the stock market wobbled. This helped to bring rates back down a touch ending the week about a .25% higher than last weeks rates.

Some great news to report: We were able to get an FHA tract approved in 6 days start to finish this week under the new guideline where the underwriter now approves the tract directly. That is record time and actually beats the time HUD was taking to get tracts updated. So, don’t run from FHA loans yet. They are still a great way to go.

I hope you have a fantastic weekend planned. Please let us know if we can help in any way.

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