Kevin's Blog

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Mortgage and Lending - Pacor Mortgage Corp
RECENT BLOG POSTS
In a volatile week of trading, mortgage markets closed unchanged last week. Despite economic data proving stronger-than-expected -- a situation that tends to lead mortgage rates higher -- concern for persistently high oil prices tempered Wall Street's excitement and mortgage rates stayed steady. ...
04/04/2011
As part of the Census Bureau's data collection activities from 2005-2009, a number of interesting charts have been published at http://census.gov. The data should not be confused with Census 2010 -- a separate survey conducted every 10 years. This is the first-ever, 5-year American Community Sur...
04/01/2011
Friday is a pivotal day for mortgage markets and conforming mortgage rates across Illinois. At 8:30 AM ET, the government will release its March Non-Farm Payrolls report. More commonly known as "the jobs report", the monthly Non-Farm Payrolls is a market-mover and home buyers would do well to pay...
03/31/2011
Standard & Poors released its Case-Shiller Index for the month of January this week. The index is a home valuation tool, measuring the monthly and annual changes in home prices in select cities nationwide. January's Case-Shiller Index gave a poor showing. As compared to December 2010, home value...
03/30/2011
On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month, according to the National Association of REALTORS®. A "pending home sale" is defined as a home under contract to sell, but not yet closed. February's Pending Home Sales Index rebound breaks a 2-month losing s...
03/29/2011
Mortgage markets worsened last week as nuclear meltdown concerns eased across Japan, and the war within Libya moved closer to a potential finish. Wall Street voted with its dollars, and a return to risk-taking emerged. "Safe haven" buying softened last week and, as a result, conforming mortgage r...
03/28/2011
It's a great time for Chicago buyers and homeowners to look at the 15-year fixed rate mortgage. According to Freddie Mac's weekly Primary Mortgage Market Survey, the relative "discount" of a 15-year fixed rate loan as compared to a comparable 30-year product is the largest in recorded history. T...
03/25/2011
Sales of newly-built homes plunged 17 percent to an seasonally-adjusted, annualized 250,000 units in February, and the supply of new homes rose to 8.9 months in February -- a 1.5 month jump from January. It's the lowest New Home Sales reading in recorded history, according to the Census Bureau, a...
03/24/2011
Home sales data is easing so far in this calendar year. Home resales and new construction have dropped to multi-month lows and, in many cities, home supplies are rising. One housing sector that's not slowing, however, is rentals. The rental market is booming. As reported by the Wall Street Journa...
03/23/2011
Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®. On an annual basis, 4.88 million homes were sold in February -- the first time annualized home resales dropped below 5,000,000 since November 2010. An "existing home" is one that's no...
03/22/2011
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Kevin Lanham

Chicagoland FHA Expert
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Do you know what causes mortgage to rise and fall each day? Everyday I post relevant articles and stats that directly influence the direction of mortgage rates. I also will feature relevant real estate news that can educate you about the market. Have a question or a topic you would like me to cover? Feel free to comment!