First Time Home Buyers
From the monthly archives: October 2009
Chicago mortgage rates similar to yesterday
Compared to the same time yesterday, mortgage rates are roughly similar on most loans. The past two days have been incredibly volatile, but keep finding their way back to even. The biggest piece of economic news today was the Existing Home Sales report which showed that sales surged in [...]
Continue Reading →More homes data hit today.
Continue Reading →Mortgage Rates at a Crossroads
Mortgage rates were under fairly heavy pressure all day yesterday before a late day rally brought rates back to nearly flat on the day. The afternoon rally was great news. The factors that we’re facing right now are a little scary.
We have an weak U.S. dollar and covered this [...]
Continue Reading →We haven’t talked about this in a few months, but we’re back to our old Gas Price Direction = Mortgage Rate Direction discussion.
Continue Reading →Mortgage rates are fighting two old enemies today: Inflation and Stocks.
What we’re seeing today is a moderate concern that inflation will pick up as the global economy picks up. While bad for rates, but a healthy global economy puts people back to work. From a stock perspective, we’re also seeing today a continued flood [...]
Continue Reading →Housing Starts on single-family homes gained last month, marking 8 out of 9 times this year that the number notched higher.
A “Housing Start” is a home for which the foundation has been excavated and, considered alongside other key market metrics, September data suggests that the housing market has stabilization is complete.
Momentum in housing [...]
Continue Reading →Mortgage rates are improving today as the Producer Price Index, an indicator of inflation, came back lower than expected. As a result, mortgage bonds are trading higher (pushing mortgage rates lower).
Currently, mortgage bonds are flirting with their 25-day moving average. As we mentioned yesterday, the week is loaded with corporate earnings reports so this [...]
Continue Reading →A very welcome change hits the lending disclosure paperwork on January 1. The Good Faith Estimate, horribly designed and rather confusing in its current form, expands from one to three pages in an attempt to be more simple for consumers.
Continue Reading →Chicago Mortgage Rates Higher For 3rd Week
Mortgage rates ticked higher for a third consecutive week. This week is absolutely loaded with earnings reports for stocks and continued strong results should lead to continued pressure on mortgage rates.
Current Rates:
No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. [...]
Continue Reading →Mortgage rates deteriorated last week on better than expected economic data.
That marks three consecutive weeks of higher rates and nearly a .5% increase since touching multi-month lows in early-October.
What the forecast?
Continue Reading →