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March 7th, 2011

Oil woes keep low mortgage rates alive, but bearish mortgage market may be around the corner

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? 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:

  • 5-15Days: I recommend LOCKING
  • 15 + Days: I recommend FLOATING

It is important now to realize that although rates are down, markets can turn bearish very quickly.  Fence-sitters should decide soon on their course of action or risk higher rates .  Economic data that can affect mortgage interest rates.

Monday

  • January Consumer Credit

Tuesday

  • $32 Billion 3-year Treasury Auction

Wednesday

  • MBA Weekly Mortgage Applications
  • January Wholesale Inventories
  • $21 Billion 10-year Treasury Auction

Thursday

  • Weekly Jobless Claims
  • January Trade Deficit
  • $13 Billion 30-year Treasury Auction
  • February Treasury Budget

Friday

  • February Retail Sales
  • University of Michigan Sentiment
  • Business Inventories
March 2nd, 2011

Helping your children buy Lincoln Park Real Estate part II

We’re two months into the  new year, spring is right around the corner and hopefully things are looking brighter for all of us!

For those of you that took advantage of my advice in December, and gifted some or all of the allotted monies to your children, are you ready to make this year’s gift contribution? Why not help your children take advantage of the buyers’ market that we still find ourselves in?

It’s never too late to help your children get a jump start on building wealth through real estate ownership. What’s holding you back from getting started with your home search!

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