ChitownLiving | Chicago Real Estate + Life

Great post from The Mortgage Reports on what the

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They didn’t really but I get this question all the time. No, not as a direct result, and here are 4 other things that don’t control mortgage rates.

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More favorable loan terms can be obtained for a primary residence. It seems that primary residency occupancy fraud is on the rise. I always wondered how the primary residence requirement was verified at the time the loan was secured and over the life of the loan.

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I appreciate it when complex subjects are explained in easy to understand terms. Dan Green of The Mortgage Reports does just that when discussing the contraction of mortgage guidelines. Which stick figure do you think should be awarded best actor in a mortgage drama?

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Housing market charts are great.  Interactive charts are even better.  This one by the Wall Street Journal covers mortgage delinquency rates. Be sure to check out the broader housing trends. Very high-level information but informative in any case.  A picture is worth 1000 words.

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Russ of Smart Mortgage Advice, delivers a succinct post on a couple key ratios used when answering the question, “How much house can you afford?”  A timely post.

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When Chicago home buyer clients ask for a lender recommendation, I often advise speaking to a Loan Officer and a Loan Originator as a comparison.  What’s the difference you ask?  I leave the explanation up to Jillayne Schlicke’s recent post at Rain City Guide.

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Much like a big game safari, Russ’ post takes us on a humorous hunt of the different types of the often elusive REALTOR® Species.  Hope I’m “The Professional”.  Happy hunting.

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When considering financing your home, the major monthly payment is PITI: principal, interest, tax and insurance.  Richard Cohen reminds us not to forget the last two characters, the T and I.

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Why write a whole new post when I can leverage an existing one. Richard Cohen addresses new construction financing and asks whether the development is warrantable? Say what? Prior New Construction Series Posts

Punch List
Taxes
Purchaser Litigation
Appraisal Contingency
Closing
Warranty

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Dan Green of The Mortgage Reports warned earlier in the week, and then I received the following communication today from the Chicago Association of Realtors.

All of Cook County Included as HB4050 is Re-Instated Rule making process begins - public comment is being solicited by C.A.R.

As anticipated, the Governor has ordered the Illinois Department of Financial [...]

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Athol Kay over at The Real Estate Guide makes a great point regarding buyers getting mortgage pre-approvals from their lenders. No need to re-hash the entire topic as Athol has done a great job, but in short, the post emphasizes the importance of not tipping your hand by customizing your pre-approval to a specific offer [...]

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  I enjoy recommending products I think my clients may find useful.  HouseMath 2.0 was brought to my attention by Matt Goyer’s Real Estate Blog and again by Future of Real Estate Marketing.  HouseMath 2.0 allows you to calculate the true monthly cost of home ownership.  The typical components of monthly mortgage payments are Principal + Interest [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
It was a bad week to float your mortgage rate last week as the Non-Farm Payrolls report and a “Double Top” technical trading pattern pushed mortgage rates up for the first [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
In what should have been a week full of shake-ups, the Fed stole the spotlight and guided markets in very plain English about its intentions. The economy is showing evidence of [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
In what should have been a week full of shake-ups, the Fed stole the spotlight and guided markets in very plain English about its intentions. Despite PPI, CPI, Retail Sales and [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Without any economic news to push mortgage rates in one way or the other, markets took their cue from the changing political landscape, China’s investment rhetoric, and a bevy of speeches [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates dropped, dropped, dropped throughout the first four days of the week last week, and then recoiled following Friday morning’s Non-Farm Payrolls report.
Check out what is in store for [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates fell last week as Ben Bernanke and the Fed issued a not-too-hot, not-too-cold statement about the U.S. economy.  Mortgage rates are back at their mid-October levels.
Check out what [...]

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Estimates of major market indicators that influence mortgage rates are provided by Dan Green of The Mortgage Reports.  Some highlights of the prior week include:
Mortgage rates trended higher last week in anticipation the Federal Open Market Committee’s meeting this Wednesday.  Since the start of October, the movement mortgage rates has reflected the changing inflation expectations [...]

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