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Illinois Mortgage Rates and News
http://www.ptmortgage.com/blog/
Mortgages and real estate from the perspective of a long time Chicago area mortgage guy. Information and education, rants and ravings, straight facts and considered opinions.
162 articles
Chicago Illinois Mortgage Rates Week in Review for the Week Ending 10/-7/2011
From Illinois Mortgage Rates and News, 7 month ago, Read 0 times. Similar articles
If you listened to news reports last week, you would have heard that mortgage rates just dropped down to their lowest point ever (according to the survey 3.94% with .80 points). Unfortunately, the news reports are based on the Freddie Mac loan survey, and this survey is always a week behind. In the real world, mortgage rates rose sharply higher and ended the week at the highest point in over a month. Mortgage rates are still near all time lows, and chances are good that rates will drop lower...
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Chicago Illinois Mortgage Rates Week in Review for the Week Ending 09/23/2011
From Illinois Mortgage Rates and News, 8 month ago, Read 0 times. Similar articles
Mortgage rates fell to all time lows last week as fears of a new recession take hold. With all the problems in Europe, fear has been in the air for a while. This week the Fed amped it up a notch by saying that "there are significant downside risks to the economic outlook, including strains in global financial markets." In other words, if Europe blows up, we are going to feel the pain, too. After the release of the Fed statement, stocks plunged, the dollar strengthened and global...
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Chicago Illinois Mortgage Rates Week in Review for the Week ending 09/16/2011
From Illinois Mortgage Rates and News, 8 month ago, Read 0 times. Similar articles
Greece and the health of the European Union is still the focus of financial concern, but so far the time bomb is still ticking. Over the last week the stock market improved and mortgage rates ticked slightly higher as optimism that some kind of solution would take hold. There was talk that China was going to come in as a big buyer of Italian debt, but that turned out to be premature. The Fed along with European central banks came up with a plan to add liquidity to the market, but this was a...
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Chicago Illinois Mortgage Rates Week in Review for the Week Ending 09/09/2011
From Illinois Mortgage Rates and News, 8 month ago, Read 0 times. Similar articles
Rates are at all time lows, and it is all about what is happening in Europe. For the past months the news has been that Greece is teetering again, and if Greece falls the other dominos (Spain, Portugal, Ireland and then others) will follow, triggering a collapse of the European Union. Greece has wobbled on the ledge for a while, but it looks like it has now reached the tipping point. A meeting of top European financial ministers broke up this weekend with no clear direction. The big question...
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Chicago Area Mortgage Refinance ? Take Advantage of the Lowest Rates Ever
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
** This is a re-post of a previous article, but it is applicable now.
We live in interesting times. Over the last several years we have seen a series of refinance booms as rates dropped to what had previously been unthinkable rates. Each time rates dropped we were sure they couldn't go any lower. But here we are again, and mortgage rates are the lowest they have been since they've been keeping track of mortgage rates. The reason for the drop in rates is due to fear of softness in the economy,...
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Chicago Illinois Mortgage Rates Week in Review for the Week Ending 08/12/2011
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
To summarize what happened last week – fear, volatility and the lowest mortgage rates ever. The week started off with the the stock markets diving after the Standard and Poors credit downgrade of US debt . So as investors sold out of stocks, where did the money go' Right into the now lower rated US debt. The markets have spoken, and as dysfunctional and debt ridden as we are, the United States is still the benchmark, and still considered the safest port in the storm. The European...
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Chicago Illinois Mortgage Rates Week in Review for the Week Ending 08/05/2011
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
This last week was a crazy week. It started out with an agreement to patch up on the debt ceiling (one which no one liked or wanted to take credit for), continued with more signs that the European Union was on the brink, the stock market plunging , a ray of hope for the weakening economy with the monthly jobs report, and ended with a bang, after the markets closed, with Standard and Poors (one of 3 private rating agencies) downgrading the credit rating of the United States. This all has the...
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Chicago Area Realtors ? Seminar' How to Create More Business Working With Rehab and Renovation Properties
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
Do you have listings that will not sell'
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Chicago Illinois Mortgage Rates Week in Review for the Week Ending 07/30/2011
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
The good news is that it appears that here is a deal to extend the debt ceiling. The drama all last week was whether congress could agree to any kind of plan to raise the debt ceiling, allowing the government to continue to pay their bills. Initially, the bottleneck was with the most conservative Republicans in the House of Representatives. These Tea Party backed congressman, mostly freshman elected last year, wanted cuts over and above what the Republican leadership sought, and only agreed to...
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What Happens to Housing and Mortgage Rates if They Don't Raise the Debt Ceiling'
From Illinois Mortgage Rates and News, 9 month ago, Read 0 times. Similar articles
Though it seems inconceivable, it is looking more possible that congress could really fail to come to an agreement on raising the debt ceiling, and the US government could default on its debt. This was looked at as inconceivable because failing to raise the limit would be a self inflicted wound, and would trigger a downgrade in US debt, riling the investment markets and costing the government more in higher interest charges. But so far, no agreement is on the horizon. It is still likely...
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