Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Sunday, August 3, 2008 Real estate notebook Mortgages Rates on 30-year mortgages, which shot up last week to the highest level in nearly a year, dropped slightly this week following passage of a housing rescue bill. Freddie Mac reported Thursday that the nationwide average for 30-year mortgages dipped to 6.52 percent this week, down from 6.63 percent last week. While the new level was still the second highest this year, it was down slightly from last week when investors were concerned about financial troubles at Freddie and Fannie Mae, which together hold or guarantee nearly half of the nation's mortgages. Rates on 15-year fixed-rate mortgages, a popular option for refinancing, fell to 6.07 percent, down from 6.18 percent last week. Rates on five-year adjustable-rate mortgages also dropped to 6.07 percent, down from 6.16 percent last week. Rates on one-year ARMs declined to 5.27 percent, compared to 5.49 percent last week. People Ken Cox, Marilee Schneider and Tracy Joy have joined Network Mortgage Services as senior loan consultants, Megan Reeb has been hired as an underwriter and Maryanne Cox is a new loan processor. Cox has 25 years in the business, Schneider has more than 20 and Joy has worked in the mortgage business for eight years. Seminars A program on reverse mortgages and on retirement planning will be offered from 11:30 a.m. to 1 p.m. Aug. 20 at the Alderwood Business Center conference room, 3500 188th St. SW Suite 121, Lynnwood. Steve Bighaus and Tom Lasswell will discuss financial issues of aging and some possible solutions. Reservations: 425-412-5236. Send your real estate news to Mike Benbow, Business editor, The Herald, P.O. Box 930, Everett, WA 98206, by fax at 425-339-3435 or by e-mail at economy@heraldnet.com.

1. Emory’s owner fears fire was arson 2. Monroe honking case makes it to state Supreme Court 3. Vatican ponders the souls in space 4. 81 veterans' names, 81 meaningful lives honored in Snohomish 5. Hope dims that Olympics will boost region 6. Student hit in crosswalk to return 7. Smokey Point to celebrate end of roadwork 8. Death on Edmonds waterfront ruled a suicide 9. Help for young moms may continue 10. Semifinal slate sealed on ‘Dancing With Stars’ 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Bazaar Fever • Hawks proud of historic season • Olson always put Edmonds first • Honoring student veterans • ‘Wheedle' author comes to Lynnwood bookshop • Mavs build early lead en route to easy win • Prep football games of the week (state playoffs) • Tears of laughter, tears of grief • Death on Edmonds beach likely a suicide • Boeing will build, flight test and deliver 787s in South Carolina to spe ... • Snohomish County EDC promoting job growth in key industry clusters • $4 million grant to advance brain tumor research has Everett links • Providence medical center construction tops off its 12-story steel frame ... • Tulalip affordable housing project to be financed by KeyBank, Raymond Ja ... • Arlington's Lak of Ink has a growing following for Luke Kooyman's creati ... • Bank of the Northwest formed • Cascade Bank earns $1.6 million