Kevin's Blog

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Mortgage and Lending - Pacor Mortgage Corp
RECENT BLOG POSTS
A shift in Wall Street sentiment caused mortgage markets to worsen last week. There wasn't much in the way of new data, but the numbers that did hit the street helped quell fears of a double-dip recession. Conforming mortgage rates rose between Monday-Friday for the first time since June, and mor...
09/13/2010
When adjustable-rate mortgages are on the verge of adjusting, a common concern among homeowners is that their mortgage rates will adjust higher. Well, this year, because of the math of how ARMs adjust, homeowners in Oak Lawn and around the country are seeing that mortgage rates on ARMs can somet...
09/10/2010
The private-sector Case-Shiller Index reported home values up 5 percent nationwide in June. The government's own Home Price Index, however, reached a different conclusion. According to the Federal Home Finance Agency, month-to-month home values fell 0.3 percent in June, and values are down by 1....
09/09/2010
Last week was a roller-coaster ride in the conforming mortgage market.  After opening the week by making new, all-time lows, markets reversed sharply on better-than-expected data in manufacturing and housing, and data from overseas. Rates rose through Wednesday and Thursday, then Friday's jobs re...
09/07/2010
On the first Friday of each month, the Bureau of Labor Statistics releases Non-Farm Payrolls data for the month prior.  The data is more commonly called "the jobs report" and it's a major factor in setting mortgage rates for residents of Illinois and homeowners everywhere. Especially today, consi...
09/03/2010
Home affordability took a slight hit this week after the Federal Reserve's release of its August 10 meeting minutes. The "Fed Minutes" is a lengthy, detailed recap of a Federal Open Market Committee meeting, not unlike the minutes published after a corporate conference, or condo association gathe...
09/02/2010
According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier.  It's the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results. That...
09/01/2010
Mortgage rates are low right now but pinning them down this week could be a challenge. As Labor Day Weekend nears and Wall Streeters take their head-start on the holiday, trading volume will fall, which will cause mortgage rates in Illinois to get jumpy. As mortgage rates change, so does the lon...
08/31/2010
With home prices holding firm and mortgage rates still dropping, home affordability is reaching new heights. According to the quarterly Home Opportunity Index as published by the National Association of Home Builders, more than 72 percent of all new and existing homes sold between April-June 201...
08/27/2010
One day after the National Association of Realtors released the softest Existing Home Sales report since 1995, the U.S. Census Bureau released a similarly-weak New Home Sales report. Americans bought just 276,000 newly-built homes in July. That marks the fewest units sold since the government sta...
08/26/2010
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Kevin Lanham

Chicagoland FHA Expert
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Do you know what causes mortgage to rise and fall each day? Everyday I post relevant articles and stats that directly influence the direction of mortgage rates. I also will feature relevant real estate news that can educate you about the market. Have a question or a topic you would like me to cover? Feel free to comment!