Good afternoon: I wanted to give you a quick snapshot of the Bellevue, WA. area. Today, mortgage interest rates at the Legacy Group were 5.125% ((5.237% APR) for a 30 year fixed mortgage O.A,C. Interestingly enough the 5 year ARM (fixed for 5 years then adjusts) is at 4.5% and alot of my clients are choosing this loan program if they know they probably won't be in their home in another 5 years.

The home loan business at the Legacy Group has been strong this year. I think the cream is definitely rising to the top. I am seeing a definite pick up in activity and am happy for all my realtor friends. Bellevue prices have dropped where first-time homebuyers can now qualify in some cases. And selection is good, expecially above the $500,000 price point.

How about in your market? I'm not sure we ever got hit as hard as some of you. Still, it's a nice change to see activity and motivated buyers and sellers. Thanks for reading! I'll keep you posted if anything changes up here in the beautiful Northwest!

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