First Time Home Buyers
From the monthly archives: August 2009
Mortgage rates start the week, in terms of discount points, .5% better than last Monday.
Continue Reading →When must Home Start loans close by?
These must close on or before November 30th. There are no guarantees that the tax credit will be extended on a federal level nor are there any guarantees that IHDA would continue the program if the federal tax credit is extended.
What is the minimum down payment?
The [...]
Continue Reading →Chicago mortgage rates closed the week flat overall, although the ride was somewhat volatile.
Continue Reading →What’s Influencing Mortgage Rates
Mortgage backed securities are up slightly at opening bell. Oil is falling. That’s good for mortgage rates. It is falling because the stock market is pulling back a bit and the Dollar is getting stronger. China’s Shangai Composite has dropped almost 25% since August 4. There are no Treasury auctions this [...]
Continue Reading →Chicago Mortgage Rate Summary
Since yesterday, rates are roughly the same. We’re starting to see a few things collide: low volume summer trading, tough resistance overhead, strong support below. In other words, something’s gotta give. Expect volatility when this breaks.
Mortgage rules change (again) on Tuesday as Fannie Mae is rolling out their new lending guidelines Tuesday, September 1, 2009.
Changes to the home loan approval guidelines: Stock [...]
Continue Reading →We’ve started adding a few comparisons based on questions we’re receiving. Today, we used an FHA Loan Calculator to compare a Conforming Fixed and an FHA Fixed.
The 30 Year versus 20 Year comparison has a few considerations:
[...]
Continue Reading →Chicago Mortgage Rates Rallying Today
After getting crushed by a wave of good news at the opening bell, mortgage rates have rallied to get back to flat on the day. Most of the selling pressure was related to the Fed comments that they [...]
Continue Reading →I think we can find at least one reason why builder confidence is soaring — look at this new home supply graph.
New Home Sales posted another winning month, now at four in a row and the best numbers we’ve seen since last September’s meltdown.
The available [...]
Continue Reading →Results from Conforming and FHA Mortgage Calculators
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