After a couple of bloody days for mortgages, we finally got a bit of a reprieve.  According to a WSJ article today, consumer lending dropped by 5.6%.  This raised the spectre of a slow and limited recovery, as Americans have chosen to shy away from borrowing.  This, in turn, could ripple through the economy as consumers choose to save instead of buy.  The end result was a retreat from recent movement into the stock market.  How is this good news you might ask?

Generally, the mortgage markets move inversely to stocks.  So, if you are currently in the process of a property search, this cooling of the recent hot equities market may give you another shot at the low rates that we have come to enjoy.  Coupled with low home values and a buyers market, opportunity has once again begun knocking.  If you are on the fence, now is a good time to reach out to your Chicago real estate and lending professionals to give you the agility you need to take full advantage of this potentially perfect real estate storm.