The Chicago 77

30 July 2010 – As I look back over this and the last few weeks from a rate perspective, I think of the French saying “plus ça change, plus c’est la même chose.”  It says that the more things change, the more they stay the same and this sentiment definitely applies for mortgage rates.  In short, rates remained extremely low [...]

23 July 2010 –Rates began the week coming off the lowest mortgage rates we have seen to date, so things could not have gotten much better. Economic news was generally favorable with good earnings data for many companies across several industries, which helped equities markets. This had an adverse effect on mortgage rates to the [...]

Today’s chaotic market presents pricing, communication, marketing and mortgage challenges that vary with each transaction, each listing, and each buyer. However, one often overlooked component common to every transaction is the lost art of negotiating. I call it a “lost art” because many sellers focus solely on marketing and advertising when choosing an agent, and [...]

16 July 2010 –I must admit that sometimes I feel like the guy at the craps table betting against the come. The one who revels in repeated cold streaks as he scrapes stacks of chips from the table while everyone else loses. When I feel this guilt, however, I just remember that the scourge of [...]

The condominium is a great type of property. It provides the joy of ownership with minimum amount of maintenance, but it is also a type of property that strikes a bit trepidation into the heart of lenders. Think of it as the difference between running the 100-meter hurdles versus a simple 100-meter dash. You get [...]

9 July 2010 – This was a short week in the markets following the Independence Day weekend. Mortgage rates were, for the most part, unchanged with a minor increase over the past several days due to a rally in equities predicated on positive jobs and retail sales figures. Additionally, there has been an optimistic atmosphere [...]

July 2nd, 2010 It’s beginning to feel like Groundhog Day in the mortgage world. Unbelievably, rates have continued to drop. Once again the equities markets have under-performed and the resulting flight to quality is fueling demand for U.S. Treasuries and, in turn, mortgage backed securities. Record or near record lows have been the norm for [...]