Aloha Friday,

WAMU gone? It goes to show you that no one is too big to close in this financial market. Having said this, the week are dropping and the strong are getting stronger. By the end of October there will be a handful of investment banks that will still be standing and their assets and balance sheets will truly grow. The link below tells of the takeover of WAMU yesterday by federal regulators.

http://online.wsj.com/article/SB122238415586576687.html 

The markets have been very unstable this week as investors are going back and forth between bonds and the stock market. They invest and then flee back to the safety of treasury bills quickly when news of financials hits the markets. The rates are up about a .25% this week from last Friday on conforming loans. But, let’s be real, rates are UNDER 6%. That is fantastic and that should keep our real estate markets humming. Remember, there is always a good market somewhere and right now is the buyers time. It has to be the best market to purchase property that we have seen the last 17 years.

Have a great weekend and let me know if I can help in any way.