Category: Mortgages

Real Estate Appraisals In The Time Of Coronavirus

Real Estate Appraisals In The Time Of Coronavirus
I’ve written a few blog posts about real estate appraisals in the past – most recently this one about the inherent biases in the appraisal process that make them kinda worthless. That one also contains a link to an earlier one on some of our worst experiences with real estate appraisals. Well, with the Coronavirus... Read more »

The Trick To Saving Thousands On Your Next Mortgage: A Rebate

The Trick To Saving Thousands On Your Next Mortgage: A Rebate
Whether shopping for a new mortgage or just refinancing an existing mortgage it really pays to shop around. A couple of weeks ago I posted an article on how to go about shopping for the lowest cost mortgage, laying out a strategy for putting all your options on a level playing field for easy comparison.... Read more »

How To Shop For The Lowest Cost Mortgage

How To Shop For The Lowest Cost Mortgage
I posted a guest article on¬†Using APR (Annual Percentage Rate) To Shop For A Mortgage back in November. The gist of that post was that attempting to compare mortgage costs based on APR can be quite deceptive and the author suggested getting a loan estimate in order to fully understand the costs. However, even comparing... Read more »
Advertisement:

Understanding The True Value Of A Lower Mortgage Rate

Understanding The True Value Of A Lower Mortgage Rate
A couple of weeks ago I published a guest post on using APR to shop for a mortgage. In short…it gets complicated. One of the more challenging aspects of analyzing different mortgage options is figuring out the tradeoff between the up front fees and the mortgage rate. In other words…are you better off with lower... Read more »

Using APR (Annual Percentage Rate) To Shop For A Mortgage

Using APR (Annual Percentage Rate) To Shop For A Mortgage
This is a guest post written by Paul Braker who is a Residential Mortgage Broker working for The Mortgage Marketplace in Mt. Prospect. Paul originates mortgages throughout the greater Chicago area and even provides his home buyers with rebates. Imagine that! The APR (Annual Percentage Rate) reflects the mortgage interest rate, any points, mortgage broker... Read more »

Getting Paid To Get A Home Loan - When Mortgage Rates Go Negative

Getting Paid To Get A Home Loan - When Mortgage Rates Go Negative
You may have heard about how there is now somewhere around $16 Trillion of debt in the world paying negative interest. That means that you have to pay to lend someone money. For instance, you loan them $100 and they pay you $99 back in a few years and you’re happy about it. I don’t... Read more »
Advertisement:

Household Debt, Mortgage Standards, Homeownership, And Home Equity

Household Debt, Mortgage Standards, Homeownership, And Home Equity
The 4 topics listed in the headline don’t actually have that much of a connection to each other but they were all covered in a rather interesting presentation released by the New York Federal Reserve about a month ago:¬†Home Prices, Housing Wealth and Home Equity Extraction. In that report they provided several charts showing the... Read more »

Fannie Mae: Responsible Mortgage Lending Or More Homeownership?

Fannie Mae: Responsible Mortgage Lending Or More Homeownership?
You remember the subprime mortgage crisis, right? Skyrocketing homeownership levels, assuring everyone in America that they could become wealthy by participating in the American dream? And the ever popular narrative of evil bankers, forcing people to take on mortgages that they couldn’t afford to pay back? Soaring home prices, followed by a crash? Banks taking... Read more »

What Do Rapidly Rising Mortgage Rates Mean For The Real Estate Market?

What Do Rapidly Rising Mortgage Rates Mean For The Real Estate Market?
Just in case you missed it mortgage rates have really been rising since mid-September when the 30 year fixed rate bounced off of a short term low of 3.78% and has recently hit 4.43%. For historical perspective you can check out the interactive mortgage rate graph below from the Federal Reserve Bank of St. Louis... Read more »
Advertisement:

Many Chicago Area Homeowners Still Underwater On Mortgages

Many Chicago Area Homeowners Still Underwater On Mortgages
Last week ATTOM data solutions, the parent of RealtyTrac, came out with their Q2 2017 U.S. Home Equity & Underwater Report that looks at how well the nation’s homeowners are doing with respect to the equity in their homes. As you no doubt know home equity is a substantial portion of the net worth of... Read more »