From the monthly archives: September 2009

Chicago Mortgage Rates – September 30, 2009

On September 30, 2009 By

Mortgage bonds are currently trading exactly flat on the day. Mortgage bonds ended up closing exactly flat yesterday. News is posting every few minutes, but each report is being immediately answered by an equal and opposite economic indicator.

Today:

7:17 AM: ADP worse than [...]

Continue Reading →

Case-Shiller Index Shows Home Values Still Rising

On September 30, 2009 By

The Case-Shiller real estate index indicated that 18 of 20 makets improved for the second month in a row.

Continue Reading →

September 29 – Chicago Mortgage Loan Rates

On September 29, 2009 By

It’s another volatile day today. It’s a big news day tomorrow so it should be choppy all week.

Current No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. 30 Year Fixed Rate Discount Points APR 4.625% 1.09% [...]

Continue Reading →

Fannie Mae Passes Tougher Mortgage Guidelines Again

On September 29, 2009 By

Mortgage guidelines are tightening for the second time in less than 3 months, Fannie Mae announced.

In its official announcement, Fannie Mae details the updates, meant to reduce the overall risk.

The first major change is with respect to credit scoring. All Fannie Mae loans — whether underwritten [...]

Continue Reading →

The Return of the Chicago 2-Flat

On September 28, 2009 By

There was a great article in the Chicago Tribune about five or six years ago. It spoke of the incredible values of the Roscoe Village 2-flat and how it had been a tried and true starter home for generations in Chicago. The rent would subsidize the mortgage and appreciation would compound on a larger home value.

Continue Reading →

Mortgage Loan Rates – September 28, 2009

On September 28, 2009 By

Stocks Not Pushing Lower…yet

Stocks are having a great day after last week’s sell-off. The Dow is currently up about 1.5% and the NASDAQ about 2.25%. Mortgage rates are flat on the day. In today’s daily update, we [...]

Continue Reading →

Predicting Mortgage Rates: Week of 9/28/09

On September 28, 2009 By

Mortgage rates are tough to handicap this week as the market gets slammed with news.

Last week, rates rallied into the weekend and improved on the week overall.

Rates have improved for three out of the last four weeks.

Continue Reading →

Chicago Mortgage Loan Rates – 9/25/2009

On September 25, 2009 By

Mortgage rates are slightly improved today.  Both Durable Goods and Existing Home Sales figures came in weaker than expected.  Consumer Sentiment came in slightly better than expected.

The biggest news items today for mortgage and are:

Housing:  Existing Home Supply is coming [...]

Continue Reading →

Existing Home Supply Falls By Nearly A Year

On September 25, 2009 By

The National Association of REALTORS

Continue Reading →

Chicago Mortgage Rates – September 24, 2009

On September 24, 2009 By

Fed Forecasts Mortgage Rates

Yesterday’s policy statement was exactly as forecast:  big.  It was one of eight annual meetings where the Fed shares an unusually detailed plan for future activities.  There is zero doubt that mortgage rates must rise, possibly significantly, once the mortgage-backed [...]

Continue Reading →