Tag: 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 »

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 »
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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 »

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 »
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Why Rising Mortgage Rates Shouldn't Crash Chicago Real Estate

Why Rising Mortgage Rates Shouldn't Crash Chicago Real Estate
A couple of weeks ago I posted on how rapidly mortgage rates have risen since the election. Given the Federal Reserve’s policy direction, this trend is likely to continue. So the obvious question is will higher mortgage rates lead to a crash in the Chicago real estate market? After all, rising mortgage rates result in... Read more »

Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer

Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer
Seriously. I kid you not. Free money. There is some lender out there giving home buyers up to $20,850 each! And you better believe that the government is almost certainly behind this. I was contacted by one of our mortgage bankers the other day with news of this incredible program and it is indeed for... Read more »

Mortgage Rates Have Spiked And It's Trump's Fault

Mortgage Rates Have Spiked And It's Trump's Fault
In case you haven’t already noticed, it looks like we can blame the election for something else now – a huge spike in mortgage rates. The last couple of weeks have been full of surprises. Not only did nobody (I don’t really think that’s a double negative) predict the outcome of the election but nobody... Read more »
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Housing Bubble 2.0: Predatory Lending Is Back

Housing Bubble 2.0: Predatory Lending Is Back
The popular narrative about the financial crisis/ housing bubble is that predatory lending practices tricked unsuspecting consumers into buying homes they couldn’t afford, driving up home prices to unsustainable levels in the process. Then when home prices inevitably went down the lenders took homes away from these people, making billions of dollars in exorbitant profits... Read more »