bailout plan: You Can Still Buy a Home For Zero Down - 10/15/08 05:25 PM
The subtitle of this message should be the paraphrase of Mark Twain: Bank Liquidity-"The reports of my death have been greatly exaggerated."  
 
The media coverage of the financial and Real Estate news has created a lot of confusion amongst the general public.  I have had Realtors tell me that some clients think that all financing for homes has dried up. I have had others shocked when I tell them their client can still get zero down 30 year fixed financing on a home.
I can only speak of what is happening in Washington State and specifically my market area which … (4 comments)

bailout plan: Mortgage Rates Headed Up - 10/09/08 03:37 PM
I am not one that likes to make negative predictions, but the recent financial news leads me to conclude that mortgage rates will be going up.  For those who are ready to buy or refinance, I believe now is a good time to lock in your interest rate.
If you want the long version, read on:
Normally a drop in the stock market leads to lower mortgage rates. This is because investors get worried about the future returns from their stocks, and decide instead to put part of their money into guaranteed returns of bonds, including Mortgage Backed Securities. With supply and … (0 comments)

bailout plan: Good Time to Buy in Wenatchee - 10/03/08 05:32 AM
For those people who have been looking at homes and are on the fence, I would encourage you to act now and get your mortgage rate locked in, as I think some of today's events will lead to higher rates in the next few weeks, and possibly even today.
The early warning sign was the fact that the stock market rallied on negative news.  This morning's payroll report showed a loss of over 150,000 jobs in September. While this is a negative sign for the economy (these people won't be shopping), the stock market went for the reverse psychology and decided … (0 comments)

bailout plan: Against the Bailout - 09/23/08 07:04 PM
Now I know I am not as smart as FED Chief Ben Bernanke and all his advisors, but I have to voice my opinion that  this $700Billion bailout is a bad deal for the economy and the country.
 
First, it will result in a raising of interest rates and a slowing of the economy. This is because the Government will need to finance this plan by issuing more debt (Treasury Bonds, Notes and Bills).  Half of these are already owned by Foreign investors, with China and the Oil-producing countries near the top of the list (the others are Great Britain,Japan, Brazil and … (7 comments)