The Chicago 77

14 May 2009 - Mortgage interest rates have dipped just a bit Tuesday and Wednesday. Rates have been holding low since late November. The markets opened up just a bit higher Thursday morning, with the Dow just above 8300. GM and Chrysler announced plans to lay off thousands, and close thousands of dealerships across the […]

The Dow has dropped a bit, down to below 8400 Wednesday morning, as retail sales have been slumping. On the plus side, mortgage rates are down a little Tuesday and Wednesday. Secretary Geithner says the financial system is starting to heal, but we obviously have a way to go. Did you know? Did you know […]

08 May 2009 - The stock markets have been creeping upward. The Dow is over 8,500 as of Friday morning. Mortgage rates have been in line, creeping upward also. The federal government has released their stress test results. They report that most big banks need more liquidity and reserves. The banks are responding, to my […]

6 May 2009 - Stocks have crept upward this week, with the Dow being above 8,400 Wednesday morning. Tuesday and Wednesday mortgage rates have inched downward very slightly. Did you know? 1) For quite some time now, conforming and FHA fixed rates have been as good, or even better than, adjustable rates. 2) Many parts […]

4 May 2009 - Mortgage rates were up toward the end of last week. Again, historically low, but up relative to the recent record lows. The Dow, the Nasdaq, and the S&P were all up over 1.5% Monday morning, rallying after construction spending rose, and pending home sales increased. Typically when the stock markets have […]

1 May 2009 - Stocks are still up a little bit Friday morning, and rates this week have been up a bit also. Of course, they are still historically very good, but up a bit from the previous week. Chrysler has filed for bankruptcy. Many analysts believe Chrysler may not survive. Perspective: 2 people have […]

29 April 2009 - The stock markets are up Wednesday morning, which would likely lead to higher mortgage interest rates, even though the U.S. economy shrank more than expected the first quarter of this year. It looks like Bank of America CEO Kenneth Lewis may likely lose his chairman position as shareholders chime in their […]

27 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 […]

22 April 2009 - The CFO of Freddie Mac was found dead in an apparent suicide. Of course, any death is a tragedy, but this is certainly a sign of the times. Treasury Secretary Timothy Geithner said Tuesday he believes most banks are liquid enough to survive the current hardships facing them. The Obama administration […]

20 April 2009 - The stock markets are down Monday morning, with the Dow back below 8000. Bank of America actually posted better-than-expected profits. GM says it will be laying off 1600 in the next few days. The Fed came out saying it was worried about the lack of inflation. You?d think inflation would be […]

17 April 2009 - Mortgage rates have been down a little bit this week, even though the Dow has been creeping upward. Billions in federal bailout money have been earmarked for ?loan modification? of Fannie Mae and Freddie Mac loans. This means the government will help defray the cost of a loan ?work out? for […]

13 April 2009 ? Mortgage rates and home prices are still very attractive. Now is the time to buy or refinance your mortgage. Fannie Mae?s ?Home Affordable? program is coming to fruition, allowing homeowner?s with a Fannie mortgage refinance up to 105% of the home value, and their mortgage insurance situation stays the same. For […]

8 April 2009 ? On Tuesday this week, rates got slightly better. Did you know? If you have an FHA mortgage right now, you can likely refinance to a lower rate even if you don?t have any equity, or are upside down. A ?streamline? refinance allows homeowners who have FHA loans right now, and have […]