When will the market correct? Your predictions please. - 03/29/08 09:45 AM
Good morning! I just finished reading the Seattle Times online (www.seattletimes.com) about J.C. Penney announcing  reduced  earnings forecasts for the first quarter of 2008. What followed were a series of short interviews with people around the nation about the state of our economy. Most of them said that they were cutting back. Yes, there's still a huge air of uncertainty out there about where our economy is headed. Probably quite a bit of it is psychological in that unemployment is still fairly low (4.9% at last count) and wages are not declining.  Some of the data is real though such as higher gas and … (41 comments)

Current mortgage rates-which way are we headed? - 03/24/08 11:04 PM
Hello everyone: I was thinking this evening on my way home that mortgage rates, in my opinion, will continue to fluctuate wildly for the foreseeable future. Currently, I'm seeing a 30 year fixed mortgage at 5.625% O.A.C. It may even go to 5.75 or 5.875% by tomorrow. Last week, rates were as low as 5.375%. Why the fluctuation? It all has to do with the stock market. If stocks are battered, typically people are pulling their money out and investing in safer vehicles such as bonds. This typically causes mortgage rates to be low. Today, the announcement that Chase was upping it's offer … (11 comments)

Place your bets-what will the Fed. do tomorrow? - 03/17/08 04:48 PM
Hello all: I'm betting that tomorrow the Federal Reserve will cut the benchmark lending rate by 3/4%. Some are thinking more (as much as 1/1/4%) but I'm sticking to my guns. It's still pretty amazing that the Fed. has cut rates so far so fast. Obviously, they're really worried about the strength of the economy. They should be. With Bear Stearns (one of the largest investment banks in the world) set to go belly up if Chase hadn't swooped in and offered $2/share for them, it's obvious how severe the credit crunch really is. Bear Stearns was a huge buyer of … (18 comments)

Just keep on plugging! - 03/13/08 08:52 AM
Good morning: As I sit here writing this, I'm battling a bad head cold. I don't know about you, but I tend to get a little short when not feeling well. On top of that, the mortgage market has just been plain screwy lately. Between the volatility of the stock market and my lenders changing their programs every day, it's enough to drive a person insane sometimes!
The one thing I was thinking about last night is the importance of keeping on. Yesterday, I had 0 loans in my pipeline. I just had the belief that things would turn for the better … (4 comments)

I'm sorry but I'm just not a rate guy! - 03/06/08 06:58 PM
I was thinking today about our topsy-turvy world recently regarding mortgage rates. Today took the cake! I counted three separate times that I received emails from lenders announcing rate changes for the worse. I'm glad I was out of the office until mid-afternoon today.  I don't know about you but I can't keep up with it all. And I've decided I'm really not a rate guy. Yes, I know I need to be competitive but I'm going to draw the line at a certain point.
In other words, I'll play the game a little bit. Personally, I'd prefer to provide value and service … (9 comments)

 
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Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Bellevue, WA

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The Legacy Group, a division of WJ Bradley Mortgage Capital

Address: 11225 SE 6th St. #110, Bellevue, WA, 98004

Office Phone: (425) 818-2251

Cell Phone: (206) 799-9062

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