Bay Area Apartment Brokers Forum, May 14 2008
Another great meeting hosted by First American Title in their San Jose office. Kari Noomen (#1 Funding Team in the Nation- WOW! Congrats Kari) of WAMU, kari.noomen@wamu.net shared her insights from her crystal ball. My notes on her comments include:
- WAMU has increased the amount of lending money for 2008.
- Fixed Rate mortgages are tied to the Bond Market (increasing trend)
- Adjustable Rate mortgages are tied to the Federal Reserve rate (Fed is itching to increase rates)
- Overall interest rate trend: increasing
Brokers in attendance reported that job reports are showing increased UNemployment… buyers are better quality applicants…. the central valley is hardest hit from the subprime crisis. I attend this meeting on a monthly basis as it keeps me aprised of activities in our south bay markets as well as the central valley.
