Kevin's Blog

Mortgage and Lending - Pacor Mortgage Corp
Mortgage markets improved last week on a bevy of economic and geopolitical news. Conforming mortgage rates in Chicago improved, falling to their lowest levels of 2011. It's a welcome development for home buyers and rate shoppers nationwide. Mortgage rates were expected to rise throughout most of ...
After posting an all-time low in February, New Home Sales rebounded strongly last month. Based on joint research from the Census Bureau and HUD, 300,000 new, single-family homes were sold on a seasonally-adjusted, annualized basis in March. It's an 11 percent improvement from February, and right ...
>Mortgage markets improved slightly through last week's holiday-shortened trading sessions. Better-than-expected housing data led mortgage rates higher Tuesday and Wednesday, but rates retreated Thursday morning in advance of Good Friday. Markets were closed Thursday afternoon and Friday. They re...
Homebuilder confidence is falling -- a good sign for buyers of newly-built homes in and around Mount Greenwood. According to the National Association of Homebuilders, the Housing Market Index slipped one point to 16 in April. It's the 5th time in 6 months that the index read 16 -- a figure exact...
Foreclosure activity is much slower this year than last. According to foreclosure-tracking firm RealtyTrac, the number of national foreclosure filings plunged 35 percent in March 2011 as compared to March 2010, a statistic that reflects a more healthy housing market and more robust outlook for 20...
Consumer spending is alive and well, it seems -- unwelcome news for today's home buyers.  Wednesday, the Census Bureau will release its March Retail Sales figures and the report is expected to show higher sales receipts for the 9th straight month. A strong reading like that should spell higher m...
Mortgage markets worsened last week as energy costs remained high, and jobs data looked strong. The safe haven buying that characterized the March mortgage market has subsided. it's driving mortgage rates higher across Illinois. Conforming and FHA mortgage rates rolled back 8 weeks worth of impro...
Mortgage rates may be a function of free markets, but real estate taxes are a function of government. And, depending on where you live, your annual real estate tax bill could be high, low, or practically non-existent. Compiling data from the 2009 American Community Survey, the Tax Foundation, a ...
The Federal Reserve released its March 15 meeting minutes Tuesday. The notes revealed a Federal Reserve split between optimism and caution for the U.S. economy. The minutes' official name is "Fed Minutes". It's a periodic publication, published 3 weeks after each meeting of the Federal Open Marke...
Which is better -- a fixed-rate mortgage or an adjustable-rate mortgage? It's a common question among home buyers and refinancing households in Illinois. The answer? It depends.  Fixed-rate mortgages give the certainty of a known, unchanging principal + interest payment for the life of the loan....

Kevin Lanham

Chicagoland FHA Expert
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