Kevin's Blog

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Mortgage and Lending - Pacor Mortgage Corp
RECENT BLOG POSTS
The housing market continues to expand, and surprise. According to the National Association of REALTORS®, November's Pending Home Sales Index gained 3 percent from October. A "pending home sale" is a home under contract but not yet closed.  The index is now at its highest point since April 2010's...
01/04/2011
Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. Mortgage bonds improved on year-end profit-taking, mostly, leading conforming mortgage rates in Illinois lower. Last week marked the first calendar week in which mortgage rates dropped since ...
01/04/2011
The Case-Shiller Index posted awful numbers in its most recent reading. Each of the index's 20 tracked markets showed home price deterioration between September's and October's respective report. Some markets fell as much as 2.9 percent. The drop in values is nothing about which to panic, howeve...
12/30/2010
With 2010 coming to a close, the "experts" are out in full force, making predictions for next year's housing and mortgage markets on business television and in the papers. Predictions for 2011 are wide-ranging: Some say home prices will rise in 2011 Some say home prices will fall in 2011 Some say...
12/29/2010
Like most housing data in November, the most recent New Home Sales report showed sales volume increasing last month, and home supplies falling. According to the U.S. Department of Commerce, sales of new, single-family homes increased to 290,000 in November on an annual basis, a figure equal to th...
12/28/2010
Mortgage markets worsened again last week as the holiday-shortened sessions did little to buck recent momentum. Although Freddie Mac reported mortgage rates dropping 0.02% from the week prior, loan officers on the street will report the opposite. Rates did not fall last week. Conforming mortgage ...
12/28/2010
Existing Home Sales jumped another 6 percent in November, the report's third month of improvement since bottoming in July. According to the National Association of REALTORS®, a quarter-million more existing homes were sold during the annual period ending in November as compared to October.  An "e...
12/23/2010
The number of single-family Housing Starts increased in November, adding 30,000 units as compared to October. The Census Bureau defines a "housing start" as a home on which construction has started. November's starts represents a 7 percent increase from the month prior. However, if you see the Ho...
12/22/2010
According to foreclosure-tracking firm RealtyTrac, the foreclosure filings fell 21 percent in November to 262,339 units nationwide. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession.  November marked the first time since February 2009 that the number of m...
12/21/2010
Mortgage markets worsened again last week as belief in a U.S. recovery and concerns for inflation took hold on Wall Street.  Conforming mortgage rates rose in Illinois for the 6th straight week. According to Freddie Mac's weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortg...
12/20/2010
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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!