Mortgage News

Mortgages, Mortgages, Mortgages! NOT the most exciting topic of conversation – but something to talk about in the Real Estate market. I know I have been pretty quiet about what is going on in the mortgage market. There is a reason for this – not much is going on! But this is a great sign … Continue reading Chicagoland NW Suburban IL Real Estate & News: Mortgage Market Update – Now is the time to Buy in NW Chicagoland – Rates are great!

In view of a weakening of the economic outlook and increasing downside risks to growth, the Federal Reserve board on December 16th dropped the target short-term interest rate, to .25%, the lowest level in history. This basically means that banks can borrow money from each other at relatively no cost.  This now pushes the Fed’s … Continue reading Fed Slashes Key Rate to Near Zero

“I KNEW THE RECORD WOULD STAND UNTIL IT WAS BROKEN.” -Yogi Berra. And while last week’s Jobs Report wasn’t the worst record breaker of all time, it showed a loss of 533,000 jobs during the month of November, which represented the most job losses the US has seen in 35 years. And adding more pain … Continue reading Your Chicagoland Mortgage Market Update – 12/8/08

It is important for both new homebuyers and homeowners who want to refinance to understand how to lock in an interest rate when applying for a mortgage loan. Understanding how rate locks work prepares you to evaluate your options. While you are in the process of applying for your mortgage loan, interest rates will most … Continue reading Your Chicagoland Mortgage Market Update- 12/2/08

“THE IMPORTANT THING IN THIS WORLD IS NOT SO MUCH WHERE WE STAND, AS IN WHAT DIRECTION WE ARE MOVING.” -Oliver Wendell Holmes. And when it comes to the direction our economy may be moving, there was some surprising news from the Fed last week that the “Minutes” from their October meeting revealed. After years … Continue reading Your Chicagoland Mortgage Market Update- 11/24/08

“What do you need a fancy suit for Charlie, you got no job to wear it to”. From the 1984 movie, The Pope of Greenwich Village. And there are a lot of fancy suits not being used, due to the massive job losses of late. The Labor Department reported that 240,000 jobs were lost in … Continue reading Your Chicagoland Morgage Market Update- 11/10/08