Welcome to Illinois Mortgage Rates and News week in review for the week ending July 25th, my take on the week's financial news and how it affected Illinois mortgage rates. There was a fair amount of mortgage related news this week, and even more rumors. The economic news was again mixed, and the
...
07/26/2008
If you've been paying attention to the news, you know that the real estate market is tough. Homes are taking longer to sell and selling for much less that they would have just a year or two ago. Many of the Realtors I speak with are still making their adjustments to the new market and trying to f
...
07/23/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 18th, my take on the week's financial news and how it affected Illinois mortgage rates. This was a brutal week for mortgage bonds, and mortgage rates. After a false start where rates recovered on Monday, the rest
...
07/20/2008
I've received 4 calls this week from home buyers looking to buy condos in Chicago and the Chicago suburbs. With more condos on the market than at any time over the last several years this is a great time to buy. This means there is more of a selection to choose from, and the competition is bringi
...
07/18/2008
I've received 4 calls this week from home buyers looking to buy condos in Chicago and the Chicago suburbs. With more condos on the market than at any time over the last several years this is a great time to buy. This means there is more of a selection to choose from, and the competition is bringi
...
07/18/2008
The stock and mortgage bond markets were in turmoil last week as rumors circulated that Fannie Mae and Freddie Mac were on the edge of insolvency. Not just the mortgage market but our entire economy are dependent on the health of these organizations. It's always been assumed that the government w
...
07/13/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 11th, my take on the week's financial news and how it affected Illinois mortgage rates. Back in March our economy barely dodged a bullet when the Fed engineered a bail out of Wall Street giant Bear Stearns. If lef
...
07/13/2008
I had breakfast this morning with a Realtor who was having a difficult time with one of her listings. She had a contract on the house and the buyer was pre-approved for the mortgage before they wrote the offer. Everything looked like it was set for a nice smooth transaction. When the financing da
...
07/11/2008
Mortgage loans in Cook County just got a little more complicated. The new anti-predatory lending bill, SB1167, goes into affect today, July 1st. One of the provisions of the bill was to set up a database to keep track of all loans originated in Cook County. Borrowers who fall into certain risk ca
...
07/02/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 27th, my take on the week's financial news and how it affected Illinois mortgage rates. The Fed took the spotlight this week, and as anticipated, they left interest rates the same but talked tough about the threat
...
06/29/2008
