Facebook
X
Pinterest
Copy Link
W ashington State continues to be a bright spot in our nation in terms of foreclosure rates. In fact, most of the nation is a bright spot, with just a few states bringing the rest of us down. There are only eight states with foreclosure rates above the national average: Nevada, Florida, California, Arizona, Michigan, Rhode Island, Indiana, and Ohio, the rest of us are below the national average of 2.75 % in June.
Washington State stands at a 1.04% rate for June, ranking us 45th in delinquencies and 44th in foreclosures started, so we are currently performing 62% better than the national rate! We are also performing well based on our 10 year history, and our numbers today are below the numbers from 2001- 2003 when the tech bubble burst.
I saw today that our unemployment rate dropped as well, from 6% to 5.8% for the first decrease in five months. Again, this is better than that same 2001 recession that had employment levels declining for 20 straight months. See the unemplyement article on King5.com here.
The final piece of good news I recieved this week was from Mark Johnson of Bank of the Pacific here in Anacortes. Mark let me know that the FNMA Bond closed up 103 points, and up is good when speaking bonds as the result of the bond going up, interest rates to you the borrower go down. Read Marks newsletter here.
So, bond rates up, mortgage rates down, DOW up, unemloyment down….Washington State: definitely up!
