Aloha Friday,

U.S. Treasury prices rose sharply Friday, adding to earlier gains, after government data showed a bigger-than-expected decline in payrolls in September, rekindling worries over an economic recovery. U.S. employers shed 263,000 jobs in September, more than the 180,000 cut forecast by analysts polled by Reuters, according to the U.S. Labor Department.

Overall rates are down about a .25% on several programs with rates in the low 4’s. This is a great time to get rates locked in. On another super note, we have several jumbo lenders now opening up some very aggressive loan rates for jumbo mortgages on vanilla single family homes. Take a look at our jumbo rates. They are priced very well.

This week I received a phone call as a friend was told by one of the “institutional” lenders that condo projects have virtually become impossible to finance as of October 1st. Please note that is not true. As of October 1st FHA is now requiring us to get condo projects re-approved that were approved prior to October 1st 2008. That is NOT the end of the world. It will add an extra week to the process and we will need the association to assist us in getting some information that is needed from the management company. This is easy stuff we can handle for you if we have a cooperative management company. Call me for any help.

Fannie Mae and Freddie Mac have made no changes to the guidelines in the past several months so everything is normal there.

Please let us know how we can help you this weekend as I am sure with rates this low you will be busy. Have a great day.

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