How Changing Mortgage Rates Impact You [INFOGRAPHIC]

Some Highlights If you’re looking to buy a home in Chicago, Illinois, and nearby areas, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. That’s because even a small change in mortgage rates can have a big impact on your purchasing power. The best way to navigate changing mortgage rates and make an informed buying […]

What’s Really Happening with Mortgage Rates?

Are you feeling a bit unsure about what’s happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The most straightforward answer is that what you read or […]

Why Pre-Approval Is Even More Important This Year?

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is As part of the homebuying process, your lender will look at your finances to figure out what they’re […]

2 of the Factors That Impact Mortgage Rates

If you’re looking to buy a home in Chicago, Illinois, you’ve probably been paying close attention to mortgage rates. Over the last few years, they hit record lows, rose dramatically, and dropped slightly. Ever wonder why? The answer is complicated because a lot can influence mortgage rates. Here are just a few of the most impactful factors […]

Are More Homeowners Selling as Mortgage Rates Come Down?

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor limiting your move options is […]

What Lower Mortgage Rates Mean for Your Purchasing Power?

If you want to buy a home, knowing how mortgage rates impact what you can afford and how much you’ll pay each month is important. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below): This recent trend is great news […]

Why Mortgage Rates Could Continue To Decline?

When you read about the housing market, you’ll probably find information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here’s what you need to know. The Federal Funds Rate Hikes Have Stalled One of the Fed’s primary goals is to lower inflation. To […]