Mortgage Compare

The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready in the event additional monetary stimulus is needed. The Fed Minutes function much like the minutes from a business meeting; or, condominium association meeting, for example. It's a detailed review of the conversations and debates ...

The new construction housing market continues to improve. One day after the National Association of Homebuilders reported a 5-year high in homebuilder confidence, the U.S. Census Bureau reports that single-family housing starts rose 2 percent for the second straight month last month. In April, on a seasonally-adjusted, annualized basis, the government reports 492,000 single-family housing ...

Homebuilder Confidence is on the rise once again. After a brief dip in April, the National Association of Homebuilders reports that the Housing Market Index rose 5 points in May to 29. The increase marks the sharpest climb in homebuilder confidence on a month-to-month basis in 10 years, and raises the index to a 5-year ...

Home affordability is receiving a boost from across the Atlantic Ocean this spring. For the third time in as many years, a weakening Eurozone is pushing May mortgage rates to new lows throughout IL and nationwide. The story centers in Greece and begins in 2010. 2 years ago, it was uncovered that successive Greece governments ...

Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone's future. Political and economic issues continue to weigh on Greece and Spain, and it's still unknown how France's new President will change that nation's fiscal direction.  Conforming mortgage rates in IL edged higher on the week overall. Last ...

Conforming mortgage rates continue to drop. For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped 1 basis point to 3.83% this week for borrowers willing to pay 0.7 discount points ...

The economic recovery continues nationwide, but the recovery's an uneven one. Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling. To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, ...

Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in IL are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without paying the closing costs. Currently, conventional adjustable-rate mortgages are adjusting to near ...

Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over. A reverse mortgage is exactly what it sounds like -- a mortgage in reverse. Rather than ...

After two weeks of no change, mortgage markets improved last week, pushing mortgage rates lower throughout IL. The majority of the improvements occurred Friday after the April jobs report failed to impress Wall Street, and after it became clear that the Eurozone's struggles with sovereign debt would continue. According to Freddie Mac, conforming 30-year fixed ...