illinois mortgage rates: Illinois Mortgage Rates - Mortgage Market Weekly Update
- 09/05/08 04:25 PM
Welcome to Illinois Mortgage Rates and News week in review for the week ending September 5th, my take on the week's financial news and how it affected Illinois mortgage rates. It's official. The biggest threat of inflation has passed and the weakening economy is our worst fear going forward (for this week anyways). Mortgage bonds are in full rally mode now, which means mortgage rates are moving down. Rates are at the best level in months, and this rally may have some more room to go. Over the last 3 months all the talk from the financial pundits (and many Fed … (2 comments)
illinois mortgage rates: Illinois Mortgage Rates - Mortgage Market Update
- 09/02/08 01:19 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending August 29th, my take on the week's financial news and how it affected Illinois mortgage rates. Because this is a holiday weekend, (and I've had some computer issues as well) this is a shortened version of the update. I'll have the breakdown and analysis in the next few days. A lot of information came out including some data showing that the economy was stronger and inflation was higher than expected. Normally this news would have killed mortgage bonds and sent mortgage rates soaring. It didn't this week … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates - Weekly Mortgage Market Update
- 07/26/08 03:28 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 25th, my take on the week's financial news and how it affected Illinois mortgage rates. There was a fair amount of mortgage related news this week, and even more rumors. The economic news was again mixed, and the big question in the mortgage backed securities markets is which battle should we be fighting, recession or inflation. The answer changes from day to day, and mortgage rates continue to be wildly volatile. We had three days where mortgage rates went down, two where they went up and … (0 comments)
illinois mortgage rates: Illinoi Mortgage Rates - Mortgage Week in Review
- 06/29/08 05:00 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 27th, my take on the week's financial news and how it affected Illinois mortgage rates. The Fed took the spotlight this week, and as anticipated, they left interest rates the same but talked tough about the threat of inflation. Wall Street wasn't happy with the decision. The Dow hit a low just ticks away from a 20% overall decline, the official mark of a Bear market. Not only did the Fed not raise rates, but their announcement balanced the threat of inflation with the threat of … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates - Mortgage Week in Review
- 06/21/08 04:06 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 20th, my take on the week's financial news and how it affected Illinois mortgage rates. Is it over yet? Not so long ago the big worry was that our economy was on the brink. Bad mortgages and the lack of credit were choking the system. Big banks and financial powerhouses were on the edge of failure and our whole economy was in the danger zone. The Fed moved decisively to inject credit into the financial markets and stem the panic. Wall Street breathed a sigh of … (0 comments)
illinois mortgage rates: How to Get the Best Rate - Shopping for Your Illinois Mortgage loan - Part 2
- 06/17/08 04:58 AM
In the first installment of this series we looked at some of the things to look out for when shopping for your mortgage. Here are some more things to be aware of: Hidden Fees - As I said before, most lenders are borrowing money from the same sources and their cost of business is similar. So if one company's rates are unnaturally low, it mans they are making up the money in other ways. There is a relationship between the rate that is quoted, and the amount of fees that are charged. The lower the rate is, the more money you … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates - Mortgage Market Week in Review
- 06/14/08 03:49 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 13th, my take on the week's financial news and how it affected Illinois mortgage rates. Over the last few weeks there has been a true change of direction in the mortgage bond markets. Mortgage rates have gone up and down as the bond market battled over what was happening with the economy. Are we in a severe recession where jobs and spending are our biggest concern? When this is the biggest fear mortgage rates go down. Is inflation heating up and will it take hold and … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates - Mortgage Week in Review
- 06/02/08 01:05 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 30th, my take on the week's financial news and how it affected Illinois mortgage rates. Over the last several months mortgage rates have gone up and down in a relatively narrow range. The dangers of inflation and recession have been pretty much equalized, and though there were extreme moves on a day to day basis, it seemed that by the end of the week the market was back close to where it started. That changed this week as mortgage bonds fell out of bed and out … (1 comments)
illinois mortgage rates: How Will High Gas Prices Affect the Chicago Area Housing Market?
- 05/28/08 04:09 AM
Oil prices are up to record highs. Last week the price went as high as $135 per barrel, and I've seen predictions that it will be $150 or even $200 per barrel by the end of the year. We've all seen how this spike in prices has affected gas prices at the pump. Yesterday I filled up at $4.20 per gallon, about $15 a tank higher than what I've gotten used to paying (which already seemed too high). Depending on how much you drive, this extra cost is taking a nice sized bite out of your disposable income. Add that to … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates- Mortgage Week in Review
- 05/24/08 12:20 PM
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 23rd, my take on the week's financial news and how it affected Illinois mortgage rates. The economy has been on a tightrope for quite some time, perched above the brink, on one side inflation the other economic stagnation. The Fed has been walking out on this tight rope, careful to not lean too far one way or the other. It's been a difficult task and so far it looks like they are dipping on both sides, but still maintaining balance. The economy is slowing and inflation … (0 comments)
illinois mortgage rates: Illinois M0ortgage Rates Mortgage Week in Review
- 05/17/08 02:55 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 16th, my take on the week's financial news and how it affected Illinois mortgage rates. If you follow the news, it was a grim week with talk of natural disasters in Asia, an earthquake in China and a cyclone in Myanmar. With true disasters like this the mess in the real estate and mortgage markets doesn't look nearly so bad. In fact, there were a few signs this week that we are starting to come out of the worst of the mess. While it is too … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates Week in Review
- 05/11/08 05:00 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 9th, my take on the week's financial news and how it affected Illinois mortgage rates. This week offered more confirmation that our economy is a mess. Oil prices hit a new record, $126 per barrel. Food and commodity prices are moving up sharply, too. At the same time in the real estate market few properties are selling, home prices are down and foreclosures are up. The economy is still shedding jobs, though at a slightly lower pace than before. Consumers are still piling on credit, but … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates Weekly Update
- 05/03/08 04:05 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending May 2nd, my take on the week's financial news and how it affected Illinois mortgage rates. There is one week every month where all the data hits at the same time, sending an overload of information to the financial markets. This was that week. As I've written before, mortgage interest rates go up and down based on activity in the mortgage bond market. Mortgage bond traders are the financial market's version of tea readers or fortune tellers. Collectively, they take in all the data as it is released, … (2 comments)
illinois mortgage rates: Odds and Ends - Stimulus Checks, the Foreclosure Bus, and the Waiting Game
- 04/29/08 03:14 PM
The Check is in the mail - The first batch of economic stimulus checks are going out this week. Anyone who files a tax return up through October of this year is eligible, and with payouts of up to $600 per individual and $300 for each child under 17, this should cover several tanks of gas. What are you planning to do with your check? The idea behind the checks is the hope that if everyone goes out and buys something, this will kick the economy back in gear. There are of course, a few problems with this theory. First of … (7 comments)
illinois mortgage rates: Illinois Mortgage Rates Weekly Update
- 04/26/08 03:02 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending April 25th, my take on the week's financial news and how it affected Illinois mortgage rates. There were a lot of mixed signals in the mortgage backed securities markets this week, and the upshot is that we are back in a battle between inflation and recession. Whichever side wins, we already know who loses - the American consumer. For now, it looks like inflation has the advantage. Commodity prices have spiked higher and oil hit a record high this week. Signs of inflation are easy to find, especially … (1 comments)
illinois mortgage rates: Illinois Mortgage Rates Weekly Update
- 04/19/08 04:36 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending April 18th, my take on the week's financial news and how it affected Illinois mortgage rates. In last weeks review I said that the calm in the mortgage backed securities market was unlikely to last, and that I expected rates to make a move out of their range soon. On that count I was 100% correct. I did however think that the odds were that the move would be toward lower interest rates. I blew it on that call. Mortgage bonds tanked this week sending mortgage interest rates … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates Week in Review
- 04/05/08 05:01 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending April 4th, my take on the week's financial news and how it affected Illinois mortgage rates. This week was a good example of how bi-polar our financial markets have become. At the beginning of the week UBS, one of the biggest investment houses on Wall Street and a big player in mortgage backed securities, announced a loss of 19 billion dollars from its sub prime holdings. To me this would be looked at as bad news. This is a huge loss and a scary reminder of how … (0 comments)
illinois mortgage rates: Illinois Mortgage Market Week in Review
- 03/29/08 03:45 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 in the knick of time, but only momentarily before falling into even worse peril. That's what the mortgage market has been like over the last 6 or 8 months, edge of the seat excitement and cliffhangers galore. Since the Sub Prime bubble popped, it's been week after week of fear … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates Week in Review
- 03/14/08 03:29 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 Stewart was on his way out of town, just about to go on his honeymoon, when he noticed the crowd of people swarming around the Building and Loan. The rumor was that the bank was out of funds, so the town's people were in a panic as they tried to … (0 comments)
illinois mortgage rates: Illinois Mortgage Rates Week in Review
- 03/01/08 02:18 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 rates. After moving up strongly (and strangely) most of the month, mortgage rates are now falling like the proverbial apple. Mortgage rates jumped up based on fear of inflation. The strange part of this has been that inflation may be a problem down the road, but the credit crunch and … (3 comments)
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Welcome to Illinois Mortgage Rates and News week in review for the week ending September 5th, my take on the week's financial news and how it affected Illinois mortgage rates.;)
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