ARCHIVED BLOG POSTS
2009
More positive signals from housing -- home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six mon...
12/30/2009
It's not only the real estate markets that differ from town to town -- the Cost of Living does, too. Insurance costs, tax bills and just plain, day-to-day living will dent a household budget differently depending on where that household is. It can be a nerve-wracking fact for families moving acr...
12/29/2009
Mortgage markets made a 4-day losing streak last week on thin holiday volume and overall economic optimism. It was awful news for rate shoppers because mortgage rates were higher every day last week. The holiday-shortened week marked the third out of 4 during which rates worsened and last week's ...
12/28/2009
Home resales are soaring. For the 4th consecutive month, the Existing Home Sales report revealed what today's buyers and sellers already know -- there's a lot of buyer activity right now. Existing Home Sales surged 7-plus percent in November, posting its largest number of recorded sales in 33 mon...
12/23/2009
Mortgage pricing worsened Monday, driving mortgage rates to their highest levels since October. The day's action was drastic, too. Some banks issued as many as 3 rate sheets Monday -- each worse than the preceding and one reason why rates got so bad, so quickly, is because this week marks the b...
12/22/2009
Mortgage markets improved last week as pricing followed a roller coaster-like pattern. After touching a 6-week high Tuesday, rates rallied to weekly lows Thursday, and then jumped back higher Friday. Despite the improvement last week overall, mortgage pricing remains significantly worse from the ...
12/21/2009
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Housing Starts jumped last month as builders got back to business. It's a telling sign for the economy, but bad news for next season's sellers. With more homes coming online, home prices may be slow to rise nationwide. A "Housing Start" is a privately-owned home on which construction has started...
12/18/2009
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy "has continued to pick up", that the jobs markets is getting better, and that housing market has shown "some signs of impr...
12/17/2009
Fannie Mae raised the bar for mortgage applicants this past weekend. Getting approved for a home loan just got harder. In its official announcement, Fannie Mae says the updates minimize long-term lending risks. If that's the case, this won't be the last guideline change Fannie Mae makes -- espe...
12/16/2009
The Federal Open Market Committee meets today for the last time in 2009. It's a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent. But that doesn't mean mortgage rates won't change. See, a major misperception among the public is that the Federal Reserve sets mo...
12/15/2009
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Kevin Lanham
Chicagoland FHA Expert
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!