Mortgage Rates Up Slightly Toward the End of Last Week

April 27, 2009

Daily Mortgage Updates

A&N Mortgage Logo27 April 2009 – Mortgage rates were up slightly toward the end of last week. Some economists are saying we are seeing the end of the housing slump now.

Effective May 1, the new Home Valuation Code of Conduct (HVCC) goes into effect (click here for detailed article by certified appraiser, Katie Anderson). What the law states is that appraisals have to be ordered through a ?non-interested third party,? such as an appraisal management company, and that any interested party shall have no influence on the appraisal whatsoever. There have been laws in place for years, but the new HVCC laws expand a little on existing laws, and put a little more teeth into it.

GM plans on cutting 21,000 jobs, reducing the number of dealerships from 6,246 to 3,605, and eliminate its Pontiac division all together. Chrysler looks like it is making progress toward concessions so that it can get more government funds and merge with Italian automaker Fiat.

Wall Street is down Monday morning, as investors weigh in that the recent swine flu outbreak could complicate global efforts to revive economies.

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About Neena Vlamis

Neena Vlamis, President and Co-founder of A & N Mortgage Services, enjoys a challenge. In particular, she and colleagues specialize in finding the best mortgage product for each of their home-buying customers. Whereas many financial institutions shy away from customers who have special financial needs, Neena and A & N boast a winning record with clients from all ends of the spectrum. Neena and the professionals at A and N succeed in home-financing scenarios as a result of their unparalleled commitment to providing honest advice, extensive breadth of personal finance knowledge vis-a-vis home ownership, and their power of being a mortgage bank and broker. These assets, in combination, have built A & N Mortgage Services into the premier originator of residential home loans in the Chicagoland area. Neena Vlamis and A and N Mortgage will identify the optimal financial product and strategy for your specific homeownership need. You can contact her at neenav@aandnmortgage.com or 773-305-LOAN.

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