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Illinois Mortgage Market Week in Review - 03/29/08 10:45 AM

Welcome to Illinois Mortgage Rates and News week in review for the week ending March 28th, my take on the week's financial news and how it affected Illinois mortgage rates.
There is a certain kind of action movie where the hero (heroine?) moves from one disaster to another, each time escaping just … (0 comments)

Mortgage Pre-Approval is the First Step for Chicago Area First Time Home Buyers - 03/25/08 09:54 PM

Here in the Chicago area we are starting to see the first signs of Spring. The days are getting longer, the air is warmer (for today, anyways), and people seem to be smiling more. For those of us in the real estate and mortgage fields, one of the major signs of … (0 comments)

Illinois Mortgage Rates Weekly Update - 03/22/08 09:49 AM

Welcome to Illinois Mortgage Rates and News week in review for the week ending March21st, my take on the week's financial news and how it affected Illinois mortgage rates.
The biggest story this week was what didn't happen. At the end of last week the Fed stepped in to engineer an … (2 comments)

Why FHA May be the Best Option for Chicago Area Home Buyers – Even Those Who Can Qualify for a Conventional Mortgage - 03/19/08 12:04 PM

Not so long ago, FHA loans were the red-headed step child in the housing market. They didn't get any respect. That wasn't always the case. Back in the old days FHA loans were the only option for most first time home buyers or others who had little money to put down. … (1 comments)

Illinois Mortgage Rates Week in Review - 03/14/08 10:29 PM

Welcome to Illinois Mortgage Rates and News week in review for the week ending March14th, my take on the week's financial news and how it affected Illinois mortgage rates.

Do you remember the scene in It's a Wonderful Life where they had the run on the bank? In the movie Jimmy … (0 comments)

The Incredible Shrinking Mortgage Market - 03/12/08 03:39 PM

Not so long ago the mortgage market was a lot like Baskin Robins 31 Flavors Ice Cream - a flavor for every need or taste. You wanted Rocky Road or Lemon Custard? No problem. A 5 year fixed payment Jumbo option ARM or a 30 year fixed rate with interest only … (0 comments)

Illinois Mortgage Rate Weekly Update - 03/08/08 09:40 AM

Welcome to this week's Illinois Mortgage Rates and News week in review, my take on the week's financial news and how it affected Illinois mortgage rates. I think it is safe to say that the mortgage system is officially broken. Mortgage rates are determined by the buying and selling of mortgage … (2 comments)

FHA announces New Loan Limits for Chicago and the Surrounding Areas - 03/06/08 09:52 PM

FHA just released their new loan limits for Northern Illinois and the Chicago area. This determines the maximum loan for FHA financing in Cook County, Dupage County, Kane County, Lake County, Will County and McHenry County. The limits are:1 unit $410,0002 unit $524,8503 unit $634,4504 unit $788,450This is great news. As … (1 comments)

Jumbo Mortgages - Options to Keep Your Interest Rate and Payments Down - 03/06/08 09:48 PM

If you are a home buyer here in the Chicago area or around Illinois, and are looking for a Jumbo mortgage, your options aren't what they used to be. A Jumbo loan is a mortgage higher than the conforming loan limit set by Fannie Mae and Freddie Mac, the two big … (0 comments)

Illinois Mortgage Rates Week in Review - 03/01/08 10:18 AM

Welcome to this week's Illinois Mortgage Rates and News week in review, my take on the week's financial news and how it affected Illinois mortgage rates.
The great physicist Isaac Newton described gravity by noting, what goes up, must come down. This week gravitational forces were at play in mortgage interest … (3 comments)

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