Seattle Bubble

I’m seeing 30 yr fixed rates under 5%. If you are considering refinancing, please contact your loan officer. If you are considering a purchase, contact your agent. It is impossible to know how long these rates will remain this low.
If you need resources, please let me know off-line. (tim@legacyescrow.net)
S-Crow

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The Sun Sentinal article:
“In an effort to halt what one official called ‘an investment world version of a run on the bank,’ state officials froze withdrawals Thursday from a $27 billion investment fund that local governments drained by almost half during the past two weeks.” (bold type by me for emphasis)
“‘It is certainly unprecedented, [...]

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Golly, this housing slump sure isn’t much fun (for never-ending appreciation-believers and real estate agents), is it? But hey, at least it’s almost over, right? Wait, what’s that you say? It’s not going to get better soon? Pfft. You’re just some doom-and-gloom blogger, why should we listen to you?
Except, that [...]

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A couple people pointed me to a great article in today’s Wall Street Journal on the prevalence of sub-prime lending across the country over the last few years. The article discusses the surge in such risky loans, and the fallout that is already underway and likely to continue.
The data suggest that financial suffering is [...]

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Rather than place a lengthy remark, I thought I’d place it as a post. Hope you don’t mind. I’m going to type as I think, so I get a free pass on typo’s.
Regarding the Steve Tytler’s Everett Herald piece:
Steve & fellow bubble believers,
In the spirit of your article, I don’t disagree with your [...]

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Here’s the latest from Aubrey Cohen over at the P-I: Mortgages harder to get for local borrowers
Lenders who previously approved mortgages to people with bad credit, no down payment and little or no documentation of income now are refusing loans if even one of those three factors is questionable. This is true even in Seattle, [...]

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