Over the last months conventional mortgage guidelines have tightened, and with risk based pricing mortgage financing has gotten more expensive for most borrowers. Conventional mortgage insurance has pulled back on what they will cover, and the cost of mortgage insurance has gone up (more increase
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06/28/2008
In the first installment of this series we looked at some of the things to look out for when shopping for your mortgage . In the second part we talked about hidden fees and pre-payment penalties. The third installment covered APRs and how important it is to know how to read a Good Faith Estimate
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06/23/2008
In the first installment of this series we looked at some of the things to look out for when shopping for your mortgage . In the second part we talked about hidden fees and pre-payment penalties. In this installment I'll talk about some of the ways to compare mortgage offers and what you can do
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06/23/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 20th, my take on the week's financial news and how it affected Illinois mortgage rates. Is it over yet? Not so long ago the big worry was that our economy was on the brink. Bad mortgages and the lack of credit wer
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06/21/2008
In the first installment of this series we looked at some of the things to look out for when shopping for your mortgage. Here are some more things to be aware of: Hidden Fees - As I said before, most lenders are borrowing money from the same sources and their cost of business is similar. So if on
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06/17/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 13th, my take on the week's financial news and how it affected Illinois mortgage rates. Over the last few weeks there has been a true change of direction in the mortgage bond markets. Mortgage rates have gone up a
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06/14/2008
Chicago, IL. - Are you in the market for a mortgage? If so you are ready to compare rates and prices to make sure you are getting the deal that is right for you. Mortgage ads are everywhere. My spam folder fills up with mortgage offers I never requested, and I cringe when I hear the mortgage ads
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06/10/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 6th, my take on the week's financial news and how it affected Illinois mortgage rates. The Dow tumbles 400 points. Oil surges to a new record high of $139 per barrel. The unemployment rate spikes by .5% to 5.5%. T
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06/09/2008
Last year, when the Sub Prime market was imploding, there was a lot of talk about how FHA, a Government backed loan, was going to be the new Sub Prime. It hasn't worked out quite that way. In fact, the real truth is that FHA is the new conventional mortgage. Sub Prime mortgages were loans for bor
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06/05/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 30th, my take on the week's financial news and how it affected Illinois mortgage rates. Over the last several months mortgage rates have gone up and down in a relatively narrow range. The dangers of inflation and r
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06/02/2008
