The Chicago 77

19 May 2009 - We are recommending that you cautiously float as mortgage interest rates test a definite strong level of support. Today, housing starts were reported significantly lower than expected, down 12.8% to 458,000 units from the expected level of 520,000! This is the lowest number of housing starts since January 1959, over 50 […]

5 May 2009 - Mortgage interest rates continue to move in a very tight range. For now we will continue to recommend floating as we test the market. It looks as if yesterdays huge stock market rally, up over 200 points, was led by the financial banking sector. The positive movement in the stock market […]

28 April 2009 - Mortgage interest rates are actually doing very well today! We recommend a cautiously float stance as it relates to mortgage interest rate locks. If we continue to see deterioration of the market indices we would recommend locking. But for now, let’s just watch the market and if stocks start to fly, […]

23 April 2009 - We are recommending a “floating” stance for mortgage loan locks today. Existing home sales were reported at slightly lower than expected which, although not far from expectations, was still below the quiet optimism that had been building in the market place. Initial jobless claims were in line with market expectations; however, […]

21 April 2009 - Mortgage bonds, an indicator of mortgage interest rates, opened favorably this morning; however, recent comments by Treasury Secretary Timothy Geithner that the market seems to be stabilizing, coupled with favorable reports from Standard & Poor’s indicating that home builders are starting to see some positive momentum, have turned the mortgage markets […]

17 April 2009 ? Mortgage interest rates are still holding steady and we are recommending a “cautiously” floating approach to locking loans. The mortgage bonds, which provide strong indicators of mortgage interest rates, are hovering slightly higher than a major support level, if the bonds dip below this support level we will more than likely […]

14 April 2009 ? Have we seen the bottom in the housing market? Well, according to current trends in the mortgage industry, it would be nearly impossible to tell. While we have seen a rise in purchase activity recently, mortgage interest rates are still very sensitive to the uncertainty of the financial markets. Today, mortgage […]

7 April 2009 - Due to the holiday week, financial news expected to be released this week is very light. However, recent speculation about the International Monetary Fund (IMF) releasing a report soon suggesting global toxic assets could top the scales at $4 trillion, of which it’s suggested that $3 trillion pertains to just the […]