fha: Get Your Lawn Ready For Spring - 03/28/14 04:08 AM
If you live in a climate where your yard has been hibernating for months, then you’re probably ready for warmer weather and a hint of green outside your kitchen window.
So, in preparation for children running on lush grass through spritzing sprinklers, use the five tips below to get your lawn ready for spring. It will reward you with picnic perfect grass all summer long.
1. Clean Up Winter’s Clutter
Take a rake and remove all of the dead leaves and debris left over from the winter months. Leaving a layer of last-year’s foliage on the ground can smother your grass … (0 comments)

fha: Today's Economics in a Nutshell - 03/28/2014 - 03/28/14 03:59 AM
Americans' attitudes towards the economy fell to lows not seen since November as higher heating and gasoline costs put a strain on household budgets. The March Consumer Confidence Index came in at 80.0, which was inline with estimates and the February reading. Economic data in 2014 has been a bit disappointing, but the harsh winter weather could have been the reason. As spring blooms, consumers will be looking for signs of more positive economic data, which would confirm that the weather had a big impact on the early year tepid economic numbers.
Consumer spending rose by the most in three months … (0 comments)

fha: Today's Economics in a Nutshell - 03/27/2014 - 03/26/14 11:53 PM
The Mortgage Bankers Association (MBA) reported Wednesday morning that total loan application volume, continued to fall in the latest week as home loan rates ticked up to their highest level since January. The MBA's Market Composite Index, a measure of total loan application volume, fell by 3.5% while the refinance index declined by 8%. The refinance index now makes up 54% of total loan application volume, the lowest level since April of 2010. The purchase index rose by 3%.
An uptick in the demand for autos and air-crafts rose in February, after declining in the two previous months. Durable Orders, or … (0 comments)

fha: More Affordable Home Prices Bring Buyers Out - 03/26/14 11:50 PM
Harsh winter weather conditions contributed to home prices falling in January. The S&P Case-Shiller 20-City composite index reported that home prices dropped by 0.10 percent in January.  12 of 20 cities posted declines in home prices in January.
The Federal Reserve’s Federal Open Market Committee (FOMC) noted in its statement last week that it was difficult to determine the exact scope of winter weather on recent economic reports.
However, the arrival of warmer weather has the potential for regional housing markets sidelined over the winter to recover.
Housing Markets Face Challenges
Analysts expect home prices to grow at a slower pace … (1 comments)

fha: 4 Myths About Buying Your Home That Just Aren’t True - 03/25/14 11:46 PM
It can be pretty intimidating to dip your toes into the realm of home ownership, especially if you’re a first-time homebuyer. To make things worse, there are a number of myths floating around out there surrounding the home buying process.
Such misconceptions have many kept many would-be homeowners from realizing the personal and financial rewards of owning a property. To clear things up, here are 4 myths about buying your first home that simply aren’t true.
Myth #1 - “It’s Cheaper To Rent Instead Of Own“
If you buy a property that is within your budget and your mortgage terms allow you … (1 comments)

fha: Today's Economics in a Nutshell - 03/26/2014 - 03/25/14 09:40 PM
Economic news was plentiful Tuesday with housing taking center stage. The Commerce Department reported today that February new Home Sales fell by 3.2% from January to an annual rate of 440,000, below the 445,000 expected and down from the 455,000 registered in January. The 440,000 is the lowest rate since September as the housing market continues to show weakness, which is due in part to the unusually cold and snowy winter.
Housing prices continue to rise, albeit at a slower pace as the sector cools off a bit from the big gains seen in 2013. The January Case Shiller Home Price … (1 comments)

fha: FOMC Statement Shows “Moderate” Economic Growth - 03/25/14 12:32 AM
The Federal Reserve’s Federal Open Market Committee met last week and Janet Yellen held her first press conference as Fed chair. According to the FOMC statement released after the meeting, the Fed cited severe winter weather conditions as a reason for slow economic growth in recent months.
FOMC members will continue to monitor economic conditions and developments as part of any decision to change the Fed’s change monetary policy. Highlights included:
“Moderate” Economic Growth; Asset Purchases Reduced For April
FOMC made the predicted cut to its asset purchase program and reduced April’s purchase of mortgage-backed securities and Treasury bills to $55 … (0 comments)

fha: Today's Economics in a Nutshell - 03/25/2014 - 03/25/14 12:08 AM
A report from Bank of America Merrill Lynch revealed that the Federal Reserve needs to continue to back the mortgage market in order for the housing recovery to continue. The recovery may not be sustained if the Federal Reserve continues to scale back on its stimulus program, dubbed QE III, which will lead to higher interest rates. The investment bank sees that mortgage application activity has been weak, and if higher rates are ahead, they see application activity declining further.
Subprime mortgages are making a comeback after being almost non-existent after the housing market collapse. However, this time around they come … (0 comments)

fha: Today's Economics in a Nutshell - 03/24/2014 - 03/24/14 01:14 AM
Fitch Ratings has taken the U.S. off of its negative watch after concluding a review of its credit rating. The agency stated that the U.S. deserves the highest rating - "AAA." The recent debt-ceiling crises in 2011 and 2013 has not affected the country's ability to borrow. Fitch went on to say that the U.S. deficits are expected to decline, which was also a factor in the continued top tier credit rating.
Your local Starbucks may begin to start serving up something a bit stronger than your average Latte...wine and beer in the evening hours at select locations. The decision is … (0 comments)

fha: What’s Ahead For Mortgage Rates This Week – March 24, 2014 - 03/24/14 12:02 AM
Last week’s economic news included several housing-related reports including the Housing Market Index (HMI) for March, a report on housing starts, and building permits for February.
The National Association of REALTORS® also released its Existing Home Sales report for February and the Federal Reserve issued its first FOMC statement under the helm of Fed Chair Janet Yellen.
Home Builders Conservative On Housing Market Conditions
The National Association of Home Builders Wells Fargo Housing Market Index rose by one point to a reading of 47 in March against a reading of 46 in February and against an expected reading of 50. Readings … (0 comments)

fha: What’s Ahead For Mortgage Rates This Week – March 24th, 2014 - 03/22/14 05:42 AM
We will continue to float as Mortgage Bonds seem to be stabilizing.
After a week of getting roughed up, Mortgage Bonds are attempting to stabilize.  At some point, lower prices lure in buyers.  The bad news – the Bond has fallen through multiple support layers, meaning they now become resistance.
The tensions in Ukraine are heating up after the U.S. has intensified sanctions against Russian President Vladimir Putin's inner circle in an effort pressure his government to back off annexing the country.  The U.S. sanctions ban certain individuals’ entry, freeze any personal assets they may have in the U.S. and … (0 comments)

fha: Today's Economics in a Nutshell - 03/21/2014 - 03/20/14 11:34 PM
Americans filing for first time unemployment benefits rose marginally in the latest week as the labor market continues to work through its post-recession recovery. Weekly Initial Jobless Claims rose by 5,000 in the latest week to 320,000, which was below the 330,000 that was expected. The four-week moving average of claims, which irons out seasonal abnormalities, fell by 3,500 to 327,000, also marking the lowest level since the end of November.
Over in housing news, rising mortgage rates and higher home prices kept the sales of existing homes slowed to the lowest rate since July of 2012. The National Association of … (0 comments)

fha: Spring Cleaning Time! Kick Clutter to the Curb! - 03/20/14 11:32 PM
Spring is around the corner, and it’s time to get your home in order!
Spring cleaning can be fun and easy if you follow some general guidelines, which are sure to get your home ready for the nice weather and looking as beautiful as the weather is about to. Kick the winter clutter to the curb (or better yet, recycle your clutter.  There are many organizations that will pick up items) with these spring cleaning tips.
 
Start With The Closets
Spring is here, and winter wear is no longer needed! It’s time to box up all of the winter boots, … (0 comments)

fha: Today's Economics in a Nutshell - 03/20/2014 - 03/19/14 11:48 PM
The Mortgage Bankers Association's Market Composite Index, a measure of total mortgage loan application volume, fell by 1.2% in the latest week. The refinance index decreased by 1%, while purchase index also decreased 1%. The refinance share decreased to 56.5% of total applications, down from 57% in the previous week and has moved lower for six straight weeks.
The national average price for a regular gallon of gasoline continues to move higher as the spring and summer driving season draws nearer. At the pumps, the price has risen to $3.52 a gallon, up from $3.35 from a month ago. Rising … (0 comments)

fha: Housing Market Ticks Upward - 03/19/14 11:31 PM
Spring is here  (yippee!!!), and the National Association of Home Builders Housing Market Index (NAHB HMI) thawed slightly in March.
The current reading of 47 is one point higher than for February.
NAHB HMI Details Show Regional Variances
The NAHB HMI national reading is based on builders’ views of three aspects of housing markets. The March reading of 47 is based on three components. The reading for prospective buyer traffic in new home developments rose by two points to 33.
Builder expectations for present sales of single-family homes rose from 51 to 52. Builder confidence in home sales in at 53.
(0 comments)

fha: 4 Important Questions To Ask Before Refinancing Your Mortgage - 03/19/14 12:49 AM
So you are thinking of refinancing? Well you are in luck because I have 4 quick and important questions you should ask yourself before doing so.
1) Do I Have Enough Equity To Get A Mortgage?
Equity:  The market value of your home minus what you owe on your home. The difference is called “equity”.
These days, any equity is a positive.  But, even if you don’t have equity, there are loans that can help, among them HARP II (Fannie & Freddie), FHA streamline, & VA IRRRLs.  So, if your loan is with FNMA, FMAC, FHA, or VA you can lower your … (2 comments)

fha: Today's Economics in a Nutshell - 03/19/2014 - 03/19/14 12:26 AM
Harsh weather continued to weigh on the housing market in February as construction on new homes fell slightly. However, future construction showed a big upswing as the temperatures rise across the nation. The Commerce Department reported that Housing Starts were steady last month rising to an annual rate of 907,000, below the 915,000 expected. Building Permits, a sign of future construction, surged by 7.5% to 1.018 million units, well above the 955,000 expected, but the big increase was concentrated in multiple-family dwellings.
Rising food prices were a key factor as consumer prices rose slightly in February. The price of food jumped … (0 comments)

fha: Today's Economics in a Nutshell - 03/18/2014 - 03/18/14 12:11 AM
Economic data had little impact t on the capital markets today as all eyes continue to focus in on the geopolitical news out of Europe. The republic of Crimea has voted to break off from Ukraine and join Russia. President Obama has stated that Crimea's vote "would never be recognized" by the U.S. and warned of further military action toward other parts of Ukraine.
The New York Federal Reserve reported that its Empire Manufacturing Index rose to 5.6 in March, above the 4.5 recorded in February and nearly inline with estimates. Within the report it showed that both the new orders … (0 comments)

fha: You Don’t Need To Pay Off Your Mortgage Early - 03/17/14 11:18 PM
For those of us who have a mortgage, we know very well how stressful it can sometimes be to make the monthly payment on time. And then for some of us, late payments are inevitable.
In fact, in 2013, from October to December, a whopping 3.85 percent of homeowners were behind on their mortgage payments. And while this percentage may seem a bit high, it’s actually quite lower than it was earlier in the year of 2013, when more than five percent of homeowners were failing to make mortgage payments on time.
As odd as it may seem, while some people … (5 comments)

fha: What’s Ahead For Mortgage Rates This Week – March 17th, 2014 - 03/16/14 11:27 PM
Last week’s economic reports provided rays of light as compared to the recent slump in positive economic news.
Unusually severe winter weather conditions affected housing-related indicators as home builders and home buyers stayed on the sidelines.
With spring on the horizon, last week’s economic news showed welcome signs of growth.
Job Openings Up, New Jobless Claims Fall
Employment is a major factor in the decision to buy a home; would-be home buyers received a vote of confidence last week as January’s job openings increased by one million to 40 million as compared to December’s reading of 39 million job openings.
February’s … (1 comments)

 
Neil J Coleman, "Best Loan Officer" Illinois Mortgage Banker Assoc (First Midwest Bank - a division of Old National Bank - Conventional / VA / Jumbo / FHA/ USDA)

Neil J Coleman

"Best Loan Officer" Illinois Mortgage Banker Assoc

Homer Glen, IL

More about me…

First Midwest Bank - a division of Old National Bank - Conventional / VA / Jumbo / FHA/ USDA

Address: Orland Park, Il, 60467

Office: (708) 975-8884

Mobile: (708) 975-8884



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