Living in Lincoln Park Blog

Discover Living in Lincoln Park!


 SUBSCRIBE

October 8th, 2010

Chicago Real Estate Fence Sitters part 2

So…What’s the truth about Real Estate Today? The National Association of REALTOR®s (NAR) announced that home sales were up in June. Housing Wire announced that sales had dropped. Real Estate guru Steve Harney says, both of these statements are TRUE!

There are seven major reports, each measuring different data. Some look at average sales price, some look at houses that closed the previous month and another looks at house that went under contract but have yet to close! Bottom line: there are nuances in the reports and both media sources decided to focus on a different nuance; therefore, they are not comparing apples to apples!

What does this mean to you? That you should pick up the phone or type in the E-mail address, but  whichever method you choose, contact a professional REALTOR®! They will explain the headlines, listen to you about your particular situation and help inform you as to how this information may affect you.

Mortgage rates are at their lowest point in over 30 years. Housing prices have stabilized in the Chicago metropolitan area. What are you waiting for? Get off the fence!!

October 8th, 2010

Mortgage Rates Begin Week With Positive Trend, But Only The Quick Will Reap Rate Rewards

Are you currently in the process of buying a home or refinancing?  Trying to decide when to lock can be a stressful and difficult decision.  In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible.  Please see my recommendations below.

If closing your Chicago mortgage in:

  • 5-7 Days: I recommend LOCKING
  • 7-30 Days: I recommend very cautious FLOATING, but LOCK on any rallies in the bond markets
  • 30 or more days: I recommend FLOATING

The week ahead for economic data that can affect mortgage interest rates:

Wednesday

  • MBA Mortgage Weekly Application Report
  • September ADP Employment

Thursday

  • Weekly Jobless Claims
  • August Consumer Credit

Friday

  • September Employment
  • August Wholesale Data
October 2nd, 2010

Busy Week for Economic Data Could Create Great Opportunities for Chicago Buyers to Lock Their Rates

Are you currently in the process of buying a home or refinancing?  Trying to decide when to lock can be a stressful and difficult decision.  In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible.  Please see my recommendations below.

If closing your Chicago mortgage in:

  • 5-7 Days: I recommend LOCKING
  • 7-30 Days: I recommend very cautious FLOATING, but LOCK on any rallies in the bond markets
  • 30 or more days: I recommend FLOATING

The week ahead for economic data that can affect mortgage interest rates:

Monday

  • 2-Year Treasury Auction

Tuesday

  • Case/Shiller Home Price Index
  • September Consumer Confidence
  • 5-Year Treasury Auction
Wednesday
  • MBA Mortgage Weekly Application Report
  • 7-Year Treasury Auction

Thursday

  • Weekly Jobless Claims

Friday

  • August Personal Spending and Income Index
  • University of Michigan Consumer Sentiment Index
  • August Construction Spending
  • September Auto and Truck Sales
|
Lincoln Park News

[CaRP] XML error: not well-formed (invalid token) at line 46
FireStats icon Powered by FireStats