First Time Home Buyers
From the monthly archives: December 2009
We’ve had a brutal run in past ten trading session with the market losing over 150 basis points. After all of that, rates have “jumped” to 5% on the benchmark 30 Year Fixed.
Chicago Home Mortgage Rates No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. 30 Year Fixed Rate [...]
Continue Reading →Mortgage rates hit a 6-week high last Tuesday and then rallied to their best levels of the week on Thursday and then sold off heavily on Friday.
It’s back to volatile.
The big story of the week didn’t turn out to be the Federal Open Market Committee’s policy statement.
Continue Reading →One of the more common loan comparisons for a first time home buyer is the FHA vs Conventional analysis.
When looking at the loans for first time home buyers today versus a few years ago, there are significant differences. There were countless exotic, but dangerous, loan programs a few years ago. The 80/20 loan, the [...]
Continue Reading →Mortgage bonds staged a massive rally yesterday, surging over 60 basis points. This pulled mortgage rates back below 5% to close yesterday and open today at 4.875% on the benchmark 30 Year Fixed.
Current Chicago Home Mortgage Rates No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. 30 Year Fixed [...]
Continue Reading →Housing Starts jumped last month.
Continue Reading →This week’s big news item was the Federal Open Market Committee yesterday. There were no major concerns on inflation and the economic statement was a very balanced, cautiously optimistic outlook.
We mentioned yesterday that bonds were as oversold yesterday as they were overbought right before this last slide started. Mortgage rates have since recovered by [...]
Continue Reading →The Federal Open Market Committee statement was the big news item of the week.
Continue Reading →Interest rates have taken a beating lately, but still sit at just 5% on the 30 Year Fixed. It’s sort of amazing that they have held this low in the face of an onslaught of good news from stocks, housing, and a general sense that our economy isn’t as bad as most others.
This is [...]
Continue Reading →Home loan approvals aren’t getting much easier.
Continue Reading →Interest rates continue to rise as mortgage backed securities continue to sell-off for the fifth consecutive trading session.
Mortgage rates, today, are better than they really ought to be after a miserable run like this. If you’re looking for a silver lining, that is it. We’re still predicting mortgage rates to react to tomorrow’s Federal [...]
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