ARCHIVED BLOG POSTS
2010
Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index's tracked markets. The strength of this month's Case-Shiller report, however, should be put in context....
03/31/2010
Starting Monday, April 5, 2010, getting an FHA mortgage in Oak Lawn and nationwide will be more expensive for borrowers. In new guidelines set forth earlier this year, the FHA announced plans to raise additional revenue and reduce the overall risk of its mortgage portfolio. The changes include t...
03/30/2010
Home values fell again in January, according to the Federal Home Finance Agency's Home Price Index. Values were reported down 0.6 percent, on average. We say "on average" because the Home Price Index is a national report. It doesn't capture the essence of a local market like Mount Greenwood , or...
03/26/2010
As expected, Existing Home Sales fell in February, slipping 30,000 units versus January's numbers. It's the 4th straight month in which Existing Home Sales were lower, month-over-month. An "existing" home is one that is previously owned and lived-in (i.e. not new construction). Existing Home Sale...
03/24/2010
CNNMoney.com recently published its 2010 forecast and projections for home prices in the country's largest metro markets. Listed as "Top 25" and also comprehensively by state, CNNMoney.com's home price forecasts puts Santa Rosa, California at the top of 2010's home appreciation list and Hanford,...
03/23/2010
Homes are more affordable in Mount Greenwood and across the nation as the housing market emerges from a slow winter season with mortgage rates still near 5 percent. Soft housing and low rates are an excellent combination for home buyers but whereas home values rise with a gradual pace, mortgage r...
03/19/2010
Mortgage markets worsened last week with little economic news to push markets in either direction. Momentum trading and rebalancing of portfolios drove mortgage rates higher, on average. FHA and conventional mortgage rates in Illinois rose last week, marking the first time that's happened this mo...
03/15/2010
The Federal Housing Finance Agency has extended the government's Home Affordable Refinance Program by 12 months. HARP's new end date is June 30, 2011. Originally known as Making Home Affordable, HARP aims to help Indiana homeowners refinance their mortgage who may otherwise be ineligible because ...
03/12/2010
If your mortgage is set to adjust this year, the smart move may be to let it. Today's conforming mortgages are adjusting lower than ever before -- as low as 3 percent. It may not be what you expected when you signed for your ARM several years ago. The reason why ARMs are adjusting lower is beca...
03/10/2010
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advanta...
03/09/2010
Rainmaker
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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!