fannie mae: Mortgage Rates Spike on Bullish Equities Market - 01/03/11 03:04 PM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if closing in 7 or fewer days.  If closing in 7 to 15 days, cautiously FLOAT with a finger on the trigger.
Long-term - FLOAT with vigilance.
The week ahead for economic data that can affect … (1 comments)

fannie mae: Mortgage market bearish in face of Chinese rate hike - 12/27/10 12:27 PM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if closing in 15 or fewer days. 
Long-term - FLOAT with extreme caution.
The week ahead for economic data that can affect mortgage interest rates
Monday
$35 Billion 2-year Treasury Auction Tuesday
Case-Schiller October … (0 comments)

fannie mae: Mortgage rates improve at start of short trading week - 12/21/10 03:53 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if closing in 7 or fewer days.  FLOAT with extreme caution if closing between 7 and 15 days.
Long-term - LOCK on ANY price improvements as window for securing best rates will be small … (0 comments)

fannie mae: Mortgage Rates Flirt With 5% - 12/17/10 10:59 AM
This week in mortgage interest rates could have been worse. While we started with another upward climb, rates for Fannie Mae and Freddie Mac mortgages retreated a bit by Thursday. Based on the extreme pain of the last 30 or so days, this was jump up and kick your heels together news.
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fannie mae: Rates Begin Week Positively As Market Corrects - 12/13/10 05:50 PM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term (No Change) - LOCK
Long-term - (No Change) LOCK on ANY price improvements as windows for improvement will be small and fleeting.
The week ahead for economic data that can affect mortgage interest rates
Tuesday
November PPI … (0 comments)

fannie mae: Mortgage Rates Skyrocket on Tax Cut Compromise - 12/10/10 11:49 AM
This week was bad for rates, really bad. If you are not in the industry, it is impossible to describe what happens when you see rate increases like we saw this week, so I will once again defer to history to illustrate what occurred.
"It's fire and it's crashing! It's crashing terrible! Oh, my! Get out of the way, please! It's burning, bursting into flames and is falling on the mooring mast, and all the folks agree that this is terrible. This is the worst of the worst catastrophes in the world! Oh, it's crashing...oh, four or five hundred feet into … (2 comments)

fannie mae: Mortgage rates begin week flat as bond market corrects from oversold levels - 12/06/10 10:58 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term (No Change) - At any point less than 15 days, I would LOCK.  More than 15 days, I would recommend LOCKING unless your risk tolerance permits calmness in the face of severe volatility.  In this case, … (1 comments)

fannie mae: Mortgage Rates Climb on Good Economic News - 12/03/10 11:15 AM
This week, I do believe that a little levity is in order. So, without further ado:
A large passenger train was crossing the country. After they had gone some distance, one of the two engines broke down.
"No problem," the engineer thought and carried on at half power. Farther on down the line, the other engine broke down and the train came to a standstill.
The engineer decided he should inform the passengers about why the train had stopped, and made the following announcement, "Ladies and gentlemen, I have some good news and some bad news. The bad news is that … (1 comments)

fannie mae: Rate watchers begin the week focused on Korea and EU - 11/29/10 10:28 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - At any point less than 15 days, I would LOCK.  More than 15 days, I would recommend LOCKING unless your risk tolerance permits calmness in the face of severe volatility.  In this case, I would … (1 comments)

fannie mae: Rate Watchers Dumbfounded as Mortgage Pricing Worsens - 11/19/10 10:30 AM

"Sometimes you eat the bear and sometimes the bear eats you." A simple quote that definitely describes the most recent week in the mortgage markets. Unfortunately it was more of the latter for those hoping for the salad days of conforming Fannie Mae and Freddie Mac conforming loans below 4.375%
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fannie mae: Rates Begin Week Dismally But Possible Respite In Future As Bond Market Nears Oversold Level - 11/15/10 10:43 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if less than 7 days out.  If your risk tolerance permits, I would FLOAT in 7 - 15 day range with your lender on speed dial to lock on improvements
Long-term - FLOAT as … (0 comments)

fannie mae: Hooked on Some Easing - 11/12/10 08:30 AM
Since this week was much like the last few, I figured that would spice things up with a musical interlude. Because I cannot sing well enough to do this justice, I would ask that you use some good imagination.
Hooked on Some Easing(Sung to Hooked on a Feeling)
See the song and read more
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fannie mae: Bumpy Week Ahead For Mortgage Rates - 11/09/10 12:05 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if less than 7 days out from closing, but if between 7 and 15 days FLOATING makes sense, but remember that pigs get fat and hogs get slaughtered.  If you are too greedy, it may … (2 comments)

fannie mae: Rates End The Week Lower As Market Digests FOMC Announcement - 11/05/10 12:36 PM
The past week was an exciting one. First, there were the mid-term elections with all of the drama of a Mexican soap opera and the negativity of homeless curmudgeon yelling at you on an El platform. This, however, paled in comparison to the much anticipated announcement of QE or quantitative easing by the FOMC.
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fannie mae: Mortgage Rate Lock Advice 11/1 - Rates open weak, but favorable Fed policy could bring lower rates and lock opportunities - 11/01/10 11:11 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if less than 7 days out from closing, but if between 7 and 15 days FLOATING makes sense as there will likely be some pricing improvement by the end of the week.
Long-term - FLOAT
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fannie mae: Mortgage Pricing Ticks Up Slightly on Positive Housing and Employment Data - 10/29/10 12:53 PM
The past week once again gave me pause as to the duality of my job. Pricing for Fannie Mae and Freddie Mac mortgage loans increased slightly over the prior week. For that, I shed a tear, since this can put some drag on the very robust refinance market. This movement, however, was primarily driven by market reaction to some positive news in two areas of the economy essential to overall recovery, i.e. employment and housing. While it would mean the end of crazy, low historic rates, this data could signal a sustained reversal of the financial ugliness of the last few … (0 comments)

fannie mae: Mortgage Rate Lock Advice 10/25 - Opportunity for rate watchers as this week's pricing opens favorably - 10/25/10 10:36 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK if less than 7 days out from closing, but if between 7 and 15 days FLOATING with a cautionary monitoring of the markets could pay off.
Long-term - FLOAT
The week ahead for economic data … (0 comments)

fannie mae: Bank of America Concerns Drive Mortgage Rates Down, But Promising Housing Starts and Encouraging Earnings Reports Shorten The Rate Rally - 10/22/10 11:19 AM
As I began writing this week's commentary, I realized I had exhausted my analogies for the ebb and flow of rates we have seen over the past months. That is until I thought back over the years to my Junior Year at West Point standing in a platform above a Long Island night spot with a bungee cord tied to my ankles preparing for the plunge. Then I remembered the jump into the void and the plummet to the bottom of my descent. As soon as I reached that point, I was pulled back violently into the air as the elastic … (0 comments)

fannie mae: Mortgage Rate Lock Advice 10/18 - Small Dip In Rates Marks Early Opportunity For Rate Shoppers - 10/19/10 01:36 AM

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below. Short-term - LOCK, As the recent gains are too good not to take advantage of
Long-term - FLOATThe week ahead for economic data that can affect mortgage interest rates
Tuesday
September Housing Starts Wednesday
MBA Mortgage Applications … (0 comments)

fannie mae: Cost for Mortgages Rises Mildly Possibly Signaling End of Record Lows - 10/15/10 10:39 AM
The cost of mortgages took a minor beating this week after several days of favorable movement. You will notice that I refer to cost as opposed to rate. This is because rates moved little if at all, but rather the points required to secure the best rates increased and available surplus to credit back to clients to structure "no cost" loans decreased. In short, it cost more to get the same rate you could a week ago, but the rate was still very available.The interesting aspect of the weeks performance stems from what went on behind the scenes in the market. … (1 comments)

 
Doug Katz (Chicago Bancorp)

Doug Katz

Oak Park, IL

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Chicago Bancorp

Address: 300 North Elizabeth, Suite 3E, Chicago, IL, 60607

Office: (312) 738-6079

Mobile: (708) 829-1336

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