As astute market observers may recall, back in March (pre-complete-government-takeover) the conforming loan limit for Fannie Mae and Freddie Mac-backed loans was bumped from $417,000 to $567,500 for the Seattle area (King, Pierce, and Snohomish counties). At that time, the local press was touting the new limits at “a big dose of first aid” and…
Tag: mortgages
In the trenches update
First, something to lighten the spirits of everyone: Tales of homeownership: If you are on a septic system, don’t drive over a waste line with a 10 ton truck loaded with gravel. I did and just learned that PVC waste lines will indeed pancake. The result is rather disgusting. – SCrow No one is lending…
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…
WAMU offering 5% CD’s & other bits
Side Commentary and thoughts: Sorry I’ve been unable to post much over the summer here and at RCG. I’ve been exceptionally busy with lots of projects and family stuff. Plus, I’m freaking out that one of my kids is going to be a Freshman in high school starting in a week or so. But, I’m…
WaMu Cuts Home Equity Credit + More Financing News
The Puget Sound Business Journal reported Friday on some more news from WaMu that is likely to affect local homeowners. Washington Mutual Inc. has slashed or suspended $6 billion in available home equity credit to its customers in an effort to reduce its risk in a flailing housing market. If they haven’t already been notified,…