2013 Mortgage Rate Predictions

  Just in time for buying and selling season to settle down slightly, we predict mortgage rates to be (drum roll, please)…about the same as they are now. Yes, mortgage rates in general will be on a steady pace for the next couple months and they will appear to be stuck in this range for [...]

The Golden Oldies: Interest Rates

You remember that nice couple just a few years ago that wanted to buy home but their lender declined them? Did they tell you the lender said they just didn’t yet make enough money to qualify for the type of home they wanted and decided to wait until they earned more? Sure you do, everyone [...]

Talk to My Lender

As a listing agent, you know what to expect when an offer is presented. You review the offer with your clients, perhaps counter or accept it as written, and set a closing date. You notice your buyers have a letter from their mortgage company stating their application has been received, reviewed and pre-approved. But sometimes [...]

Key Mortgage Named Lender of the Year at the 2012 Agents’ Choice Awards

Prestigious Award Presented by Chicago Agent Magazine and Chicagoland REALTORS® CHICAGO, Oct. 25, 2012 /PRNewswire/ -- Key Mortgage Services Inc. was honored as the Lender of the Year at the Chicago Agent annual Agents' Choice awards ceremony, hosted by Chicago Agent magazine. Hundreds of Chicagoland real estate professionals voted for Key Mortgage in the magazine's annual survey. The award winners were announced [...]

NPR – Renters No More: Newbies Lured To Homeownership

Great article from NPR...heard this on the drive in this AM. "Today, buying a house may once again look like a sound financial option, at least in many parts of the country where markets have stabilized, mortgage interest rates are extremely low, and rents are moving sharply higher. "If you are in a stable place and you [...]

HARP 2.0 = SCAM 2.0 – Helping Responsible Homeowners Save Money through Refinancing

Laurie Goodman,  a highly respected mortgage analyst,  presented at a Senate hearing on mortgage refinancing yesterday.   Attached is her testimony.   She focused on the problems with HARP 2.0. As she put it..."the largest banks have been given the opportunity to extract monopoly profits on HARP refis"....READ IT....DON'T SHOOT THE MESSENGER! "We believe that a broader refinancing plan which allows the [...]

Fannie Mae Online Offers

Fannie Mae has recently integrated an online portal where real estate agents submit their buyers' offers.  Offers on Fannie Mae owned REO's are no longer to be submitted to the listing agent; allowing for documentation purposes to avoid miss-communication to all parties.   Many agents have already submitted an offer for a buyer through this process to find they are spending a [...]

FHA Extends Waiver of Anti-Flipping Regulations Through 2012:

In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations.   With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than [...]

Short Term Spike On Horizon – Lock Your Rate

Weekly initial jobless claims are still over 400,000 but they came down very substantially in the May 14 week to 409,000, for a 29,000 fall following the prior week's 40,000 decline (prior week revised 4,000 higher to 438,000). Stock futures are rising in reaction to this report.  This will make mortgage rates increase....lock today.  

Sitting Ducks, New Low Rates & Great Home Prices is Best Time to Buy

Consumer confidence fell to a six- week low as the costliest gasoline in almost three years worsened Americans' perceptions of their finances.  When consumer confidence is low the markets drop and this lowers interest rates.  “The Bloomberg Consumer Comfort Index dropped to minus 46.9 in the period to May 8, the worst reading since March, from [...]