Mortgage Rates

NEW YORK (Reuters) - U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday. The Mortgage Bankers Association said rates on 30-year fixed-rate mortgages, the most widely used loan, were below 5 percent for a third straight week, reaching a four-month low. Demand for home refinancing loans was the highest since mid-May. Appetite for applications to...Read Full Story

NEW YORK (Reuters) - U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Sept 18 increased 12.8 percent to 668.5, the highest level since the week ended May 22. While consumers clamored for home refinancing loans...Read Full Story

NEW YORK (Reuters) - U.S. mortgage rates dropped to a record low, smashing through a previous record set earlier this year, a closely watched mortgage survey showed Thursday. The lowest mortgage rates in decades and high affordability have also helped the hard-hit housing market find some footing this year after a three-year slump. Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, fell for a fifth consecutive week, averaging 4.71 percent for the week ending...Read Full Story

The jobless rate rose in most Illinois metropolitan areas in October. Figures released Wednesday by the Illinois Department of Employment Security show unemployment was highest in the Rockford area at 15.7 percent. That's up from 15.2 percent in September. The Kankakee-Bradley area ranked second with a 13.3 percent jobless rate. Also in double-digits were Decatur with 12.7 percent, Danville with 12.1 percent, Peoria with 11.7 percent, the Chicago-Naperville-Joliet area with 10.4 percent and...Read Full Story

Toys R Us Inc. said Friday that is has refinanced a European credit revolver set to expire in 2012 and has secured new rates of about Libor plus 4 percent. Libor is the London Interbank Offered Rate offered between banks. The new loan gives the toy seller access to 112 million pounds ($196.3 million) to fund its European and Australian operations. The credit revolver was refinanced as an international asset-backed loan facility with a new expiration date of Oct. 15, 2012, replacing one that...Read Full Story

When looking to refinance your existing mortgage, a low mortgage rate refinance is the ideal one. But the low mortgage rate refinancing can sometime be difficult. Low mortgage rate refinance is always negotiable thus sometimes you may end up with a higher loan rate than you have expected. Even after all the research and negotiations that have put into it, you may still end up paying a higher rate of interest. A best fixed rate mortgage or new mortgage gives you peace of mind on outgoings...Read Full Story

Welcome to Illinois Mortgage Rates and News week in review for the week ending November 20th, 2009, my take on the week’s financial news and how it affected Chicago Illinois mortgage rates . Mortgage rates are still holding near the lowest rates of the year. These low rates are compounding the experts. The stock market shows signs of faltering, but it is still up near the highs for the year. Oil and gold have had major run ups, and the dollar keeps getting smacked around on the currency...Read Full Story

If you want to apply for the bad credit mortgage refinance loan and bad credit is the cause of your worry, then you need not to worry at all. With some useful advice, you can know how easily you can benefit with this option. Here are some tips you can follow for getting mortgage refinance with bad credit. Acquire information The first and the most important advise for acquiring mortgage refinance loan with a bad credit easily is that the person must make himself updated with the list of...Read Full Story

Welcome to Illinois Mortgage Rates and News week in review for the week ending October 31st, 2009, my take on the week’s financial news and how it affected Chicago Illinois mortgage rates . This was a scary week in the markets with a good share of both tricks and treats. The week started out with the release of the Gross Domestic Product (GDP). The GDP, the measure of all the goods and services sold in the economy, grew by 3.5% in the third quarter of 2009. This news brought out the...Read Full Story

Welcome to Illinois Mortgage Rates and News week in review for the week ending November 13th, 2009, my take on the week’s financial news and how it affected Chicago Illinois mortgage rates . The big news this week is that rates are back in the 4s. This wasn’t supposed to happen. All the experts have expected that mortgage rates would start to rise as the Fed slowed down on their buying schedule of mortgage backed securities. Stock prices are still hovering at the top of their range, and oil...Read Full Story