First Time Home Buyers
From the monthly archives: August 2009
The revised GDP came in at -1% rather than -1.5%. Initial claims came in slightly higher than expected, 570k actual v 565k estimated. Interestingly, Q2 Auto Sales came in flat, at 0.0% versus expectations of 0.2%.
Trading is still thin so summers are very volatile.
Expectations for Chicago Mortgage Rates This Morning
While writing this [...]
Continue Reading →In a rare day for 2008-2009, mortgage rates are relatively flat on the day and improved over yesterday’s rates.
30 Year Fixed Rate Points APR 4.875% 0.96% 5.019% 5.000% 0.54% 5.109% 5.125% 0.00% 5.188% 20 Year Fixed Rate Points APR 4.750% 1.15% 4.908% 4.875% 0.03% 4.938% 5.000% 0.00% 5.027% 15 Year Fixed Rate [...]
Continue Reading →A full 90% of markets tracked by the Case-Shiller Index showed rising home values in June. This marks five months in a row and the best showing since the market turned in 2006.
Has housing turned the corner?
Continue Reading →Mortgage rates should open slightly better today on the heels of yesterday afternoon’s rally. We had Home Price go up, Consumer Confidence went up, and the Treasury auctioned $40+ Billion again and mortgage rates still found some steam to continue their rally.
We’ll have rates out a little later than normal today, probably closer to [...]
Continue Reading →Chicago Mortgage Loan Rates Holding Steady
We’ve seen good news in home values (Case-Shilller up 1.4% in June) and consumer confidence (54% versus expectations of 48%) already this morning. Bonds dipped for a while, but mortgage rates have held steady and roughly unchanged on the day.
The Treasury’s $42 billion auction [...]
Continue Reading →The housing market continues to beat expectations. Last week, the Existing Home Sales report beat expectations.
An “existing home” is a home sold by an existing owner as opposed to a developer. It’s non-new construction property.
The data from the Existing Home Sales report was noteworthy for [...]
Continue Reading →Chicago Mortgage Rates Improved Yesterday
There were a few reprices during the day where rates improved by approximately 25bps in pricing and ultimately rates closed lower by .125-.25% on the day across most loan products.
Predicting Mortgage Rates for Today
Return all trays and seat backs to their upright positions as today could get a [...]
Continue Reading →Chicago Mortgage Rates Recap
Mortgage rates followed a volatile path last week, ultimately ending up right where they started. Strong housing news, coupled with positive news for the overall economy, helped push rates back up on Friday morning.
Current Mortgage Rates
We’re having a really weird day today. Chicago mortgage loan [...]
Continue Reading →Mortgage rates closed out last week unchanged between Monday and Friday, but wow was it a ride in the middle.
Friday was the worst day of the week by far.
Continue Reading →Mortgage rates are ever so slightly better today. The Existing Home Sales figure blew away expectations today. With about six shopping weeks left under the $8,000 tax credit, this next run of pending homes sales could be staggering too.
The housing market has momentum again as three forces collide:
Tax Credit [...]
Continue Reading →