mortages rates: Retail Sales Rise For 7th Straight Month; Mortgage Rates Worsen
- 02/15/11 02:32 AM
If consumer spending is a keystone element in the U.S. economic recovery, a full-on rebound is likely underway. Tuesday, the Census Bureau released its national January Retail Sales figures and, for the seventh straight month, the data surpassed expectations. Last month's retail figures climbed 0.3 percent as total sales receipts reached an all-time high. It's good news for the economy which is scratching back after a prolonged recession, but decidedly bad news for people in want of a mortgage across the state of Illinois. This includes home buyers and would-be refinancers alike. Because consumer spending accounts for the majority of the U.S. … (0 comments)
mortages rates: What's Ahead For Mortgage Rates This Week : February 7, 2011
- 02/07/11 07:05 AM
Mortgage markets worsened last week as Wall Street came to terms with the expanding economy; and realized the Federal Reserve may be trying to induce inflation. Better-than-expected retail sales and positive job growth buoyed stock markets and sank bonds. Mortgage rates in Illinois rose for the 4th time in 5 weeks last week, extending a losing streak which dates back 4 months. Today, fixed, conforming rates are three-quarters of a percent higher as compared to the market's low point, November 3, 2010. For a $200,000 home loan, that size rate hike equates to an increase in a monthly mortgage payment of … (0 comments)
mortages rates: What's Ahead For Mortgage Rates This Week : November 29, 2010
- 11/29/10 06:15 AM
In a holiday-shortened week on Wall Street, mortgage markets improved on 3 of 4 days, but still posted its fourth consecutive losing week. Unfortunately for rate shoppers and home buyers in Illinois , last week's 3 days of gains were mild improvements; the one day of deterioration was among the Top 10 worst days for mortgage bonds this year. Mortgage rates in Oak Lawn are at their highest levels since mid-July. The Refi Boom is unwinding quickly. Last week underscores the importance of the global community to the future of the U.S. mortgage market. Two of the main reasons why mortgage … (0 comments)
mortages rates: Mortgage Rates Spike On Strong Retail Sales Data. Could 4 Percent Rates Be Done?
- 11/16/10 04:33 AM
If consumer spending is a key to economic recovery, the nation is on its way. Monday, the Census Bureau released national Retail Sales figures for October and, for the second straight month, the data surged past expectation. Last month's retail figures jumped 1.2 percent -- the largest monthly jump since March -- as total sales receipts climbed to a 2-year high. Consumer confidence is rising, too. Though still below the long-term trend, confidence in the future up-ticked in October. The current confidence reading is now double the low-point from February 2009. It's no surprise that both Retail Sales and Consumer … (1 comments)
mortages rates: Better Credit Scores Get Better Mortgage Rates
- 11/02/10 02:51 AM
This week marks the start of the Refi Boom's 7th month; rates have been falling since early-April 2010. Whether you're looking to refinance or buy a home, however, know that not everyone will qualify for today's low rates. Mortgage approvals are primarily based on good income, good equity and strong credit, and, without all three, the best rates of the day remain out of reach. Now, you can't always ask for a raise and equity is a function of the housing market, but you can do something about your credit score. In this 4-minute segment from NBC's The Today Show, … (1 comments)
mortages rates: What's Ahead For Mortgage Rates This Week : November 1, 2010
- 11/01/10 08:20 AM
Mortgage markets remained highly volatile for the second straight week last week. Yet, over the course of 5 days, mortgage bonds ended the week relatively unchanged. Conforming rates in Illinois worsened Monday, Tuesday and Wednesday -- rising as much as 3/8 percent as compared to the week prior -- before settling lower through Thursday and Friday. On the week overall, 30-year fixed rates worsened, 15-year fixed held steady, and 5-year ARMs improved. And despite all the data released last week, it wasn't the fundamentals that were causing rates to move. Instead, Wall Street was firmly focused on the Federal Reserve's scheduled … (0 comments)
mortages rates: What's Ahead For Mortgage Rates This Week : October 12, 2010
- 10/12/10 04:18 AM
Mortgage markets improved last week on mixed messages about the economy, and a growing belief that the government will move to stimulate the economy. Conforming mortgage rates in Illinois eased lower. According to Freddie Mac's weekly mortgage market survey, average mortgage rates nationwide fell to new all-time lows last week. On the other side of that point, however, is that the accompanying "points" for today's low rates have climbed to their highest levels of 2010. In other words, mortgage rates are down, but closing costs are up. There were two main stories driving mortgage rates last week. The first was the … (0 comments)
mortages rates: What's Ahead For Mortgage Rates This Week : September 27, 2010
- 09/27/10 05:33 AM
Mortgage markets improved last week as markets digested a bevy of data from the housing sector, plus the scheduled Federal Open Market Committee meeting. In back-and-forth trading, conforming mortgage rates in Illinois bottomed out Wednesday before rising through Friday's afternoon close. Rates still managed to eke out improvement on the week overall. According to Freddie Mac, mortgage rates remain near their lowest levels of all time. Despite low rates, however, rate shoppers are finding it a challenge to lock the "best price". This is because Wall Street is conflicted about the future of the U.S. economy and, as a result, mortgage … (1 comments)
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!
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