The Federal Reserve is going to purchase $600 billion in U.S. Treasury bonds over the next eight months in an effort to help our ailing economy. What does that mean? It means the Fed will create money, literally out of thin air, in order to buy Treasury bonds on the open market — about $75 …
Fed Plan Could Make It Easier to Buy/Keep a Home Read More »
The 30-year fixed-rate mortgage has gone up for the first time in five weeks. Freddie Mac reported today that the average rate for a 30-year FRM rose to 4.21 percent this week after hitting a record low 4.19 percent last week. The 15-year fix-rate mortgage inched up too, increasing from a record-low 3.62 percent last …
Sure, the interest rates are the lowest they’ve been in many decades. But when home loans are underwater – the homeowners owe more than the home is worth – taking advantage of low interest rates simply is not a possibility. What if someone, say the federal government, stepped in and made it a possibility? How …
How Could Mass Refinancing Impact Chicagoland Real Estate? Read More »
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey with positive news: The number of homeowners applying for mortgages or refinancing went up while interest rates went down. The Market Composite Index, which measure the amount of mortgage loan applications, increased 8.8 percent on a seasonally adjusted basis from one week earlier. …
