Snow Day! And Rates Fall!

Wow, we woke up and the world was coverd with white fluffy stuff. There is no school, it's an official Snow Day. Sorry, grownup world, but this is wonderful...and as a grownup, I have to go to the airport to pick up a guest from Japan so I will take my camera and see what the city looks like. Meanwhile, got a message from one of my most trusted loan officers, Jack de Cook (IndyMac Bank, Bellingham, his website below) which gave the following information (Thank you Jack!!!!):

Last Week in the News

Following a plunge in global financial markets, the Federal Reserve slashed the federal funds rate on January 22 by three-quarters of a percentage point to 3.5%, the biggest interest rate cut in 18 years. The federal funds rate is the interest that banks charge one another on overnight loans.

On the same day, the Fed also lowered its discount rate to 4% from 4.75%. The discount rate is the rate at which banks can borrow directly from the Federal Reserve. The Fed's twin cuts are designed to keep financial institutions lending money to businesses and consumers, rather than fuel an economic downturn by limiting credit.

For the week ending January 17, rates on 30-year fixed-rates fell to their lowest level since July 2005, Freddie Mac reported January 24.

Falling mortgage rates helped boost mortgage application volume by 8.3% over the same week, the Mortgage Bankers Association said January 24. Applications were 63.7% higher than during the same week in 2007. Refinancing accounted for 66% of mortgage applications compared to 62.7% a week earlier.

The news was tonic to a housing market that saw existing home sales fall 2.2% in December, closing out a year in which sales of single-family homes swooned 13%, the largest amount in 25 years, the National Association of REALTORS® said January 24. The median price for a single-family home dropped 1.8% to $217,000, the first annual price decline dating to 1968 records.

This week look for updates on new home sales on January 28.

Economic data compiled from government reports and news services msnbc.com, cnbc.com, cnn.money.com and Yahoo Economic Calendar.

Click here to visit my website and apply online:
http://www.jdecook.imbhomelending.com/

10 Must-Dos in Seattle

Well, on those nights where it's late and I'm tired, I think a simple subject is in order! Not to say that doing these 10 things will actually be simple, but at least they are all neatly laid out for me and I can wrap my mind around them without much real trouble.

I picked up a "Seattle Visitor's Guide" at the airport when I went to pick up Sayaka a couple of weeks ago (Sayaka is a college student from Japan who's staying with us for a few months). I thought it would just be for my clients, but when I started leafing through it, I found it to be full of interesting and even exciting things I felt I just had to rush out and do! These 10 things must be on top of the list!

I am not going into much detail tonight, but at least I can get the 10 things in and then go from there.

1. Ride the Space Needle
2. Explore the Pike Place Market
My Virtual Tour of Pike Place Market
3. Investigate Bill Speidel's Underground Tour
4. Study the Seattle Public Library
5. Dip Into the Seattle Aquarium
6. Wander the Seattle Waterfront
7. Go Wild for Woodland Park Zoo
8. Stroll Olympic Sculpture Park
My Virtual Tour of Olympic Sculpture Park
9. Take A Ferry
10. Trip to Tillicum Village

I know that visitors to the city can get a CityPass and a Go Seattle Card but I still have to check out exactly what these involve. Anyway, since I live here it will be much better to take it slowly and really enjoy each of these awsome ideas for exploring Seattle...I believe everything is better if