This is your open thread for today. Please post random links and off-topic discussions here.
Here’s a random little snippet of my own. Seen on the Craigslist forums last week:
Over the long weekend, one of the people I was camping with is an Escrow officer on the Eastside.
I asked her a few questions about how business has been – she’d been working 65 hrs a week lately. Then I posed a question about what percent of the loans were fixed rate, she chuckled and replied "ZERO! I haven’t seen one in months."
Granted, this is only one office but they deal exclusively with Seattle area properties.
The most popular loan? Option Arms with initial rates under 2%.
Apparently she’s seeing alot of Cali equity refugees buying up cash flow negative rental properties in this area. And in her opinion, the party is far from over.
Party on.