Right on schedule, as home price declines in Seattle really start in earnest, foreclosures begin to “soar.” Seattle-area foreclosures were up 54 percent in August from a year earlier, according to a new report. The area, defined as King and Snohomish counties, had 1,185 properties with foreclosure filings, up 15 percent from July, according to…
Category: News
News, current events, etc.
Open WaMu Thread
Here’s a piece from Bloomberg News yesterday on WaMu’s troubles: Rule hobbling suitors batters WaMu stock Shares of Washington Mutual fell 29.7 percent to a nearly 18-year low Wednesday on concern a new accounting rule could hinder attempts to find a buyer. WaMu stock dove 98 cents to $2.32, the lowest close since November 1990….
August Reporting Roundup: Reality Finally Sinking In
Oh man. They let Elizabeth Rhodes take just one day off, and look what happens: Gahh! It’s right there in giant black print, above the fold on the front page! I can’t imagine the Seattle Times’ real estate advertisers feeling too great about this…
Interest Rate Watch APB
Interest rates have fallen into the 5.5% 30 yr fixed range. This is quite a sweet spot for those who are considering refinancing and purchasing. At the beginning of this year, when rates were around 5% for a 30 yr fixed, many people took advantage of the opportunity. Please contact your local loan officer. Our…
Oh, Snap: WaMu CEO “Ousted”
Wall Street Journal: Washington Mutual Forces Out CEO Kerry Killinger, who helped build Washington Mutual Inc. into the nation’s largest thrift and then presided over its rapid decline, is being ousted as chief executive, making him the latest casualty of the mortgage crisis. For months, Mr. Killinger had fought off a growing chorus of calls…