Wednesday, December 30th, 2009

This Week's Rates

Product
Interest Rate
APR
Conforming & FHA Loans

30-Year Fixed

5.250%

5.444%

30-Year Fixed FHA

5.500%

6.245%

15-Year Fixed

4.625%

4.952%

5-Year ARM

4.125%

3.738%

5-Year ARM FHA

4.000%

3.460%
Jumbo Loans

5-Year ARM

3.875%

4.675%

7-Year ARM

4.250%

4.759%

 

Tune in Tonight to see American Street Mortgage Company featured on CBS2 again!  We'll be discussing refinancing in today's market. 

Jumbo Loans: Go Big or Go Home

In a mortgage market dominated by “black or white”, “yes or no”, and by-the-book diligence, more and more I am beginning to see some jumbo lenders starting to loosen up and be a bit more intuitive than their government-endorsed or government-insured counterparts.
Most people are familiar with jumbo loans, or loans that exceed the maximum amount [...]

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Home Inventories Plummet, Foreshadowing Higher Prices By Spring 2010

Home resales are soaring. For the 4th consecutive month, the Existing Home Sales report revealed what today’s buyers and sellers already know — there’s a lot of buyer activity right now. Existing Home Sales surged 7-plus percent in November, posting its largest number of recorded sales in 33 months. Sales volume is up 44% higher versus last [...]

Continue reading "Home Inventories Plummet..."

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Featured Mortgage Planner:
Daniel Chookaszian

Featured Mortgage PlannerDanny is the Vice President of Veteran Lending at American Street Mortgage Company. Danny graduated Magna Cum Laude with a B.S. in Management from Northeastern Illinois University, and also has a Masters of Divinity from Moody Bible Institute. In addition to being a mortgage professional, Danny serves as a volunteer chaplain at a VA nursing home. He is a published VA author for Scotsman and has also been featured by Terry Savage of the Chicago Sun-Times.

Contact Daniel Chookaszian »

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VIDEO: A Primer On VA Loans

VA Video

VA loans may well be the most misunderstood type of mortgage loan in the market today. Watch the video above for an overview of the VA lending program as explained by Daniel Chookaszian of American Street Mortgage. (Run Time - 9m42s)

American Street Mortgage Company
837 North Milwaukee Avenue
Chicago, Illinois 60642
(312) 376-3760 Phone
(312) 376-3761 Fax
www.AmericanStreet.com
www.AmericanStreetBlog.com
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Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.

The displayed annual percentage rates (APRs) include total points and additional prepaid finance charges but do not include other closing costs. On adjustable-rate loans, rates are subject to increase after consummation.

Rates are subject to change without notice and depend in part on your unique credit history and transaction characteristics. Learn more about assumptions and APR Information. Loan pricing may only be locked through a home mortgage consultant to be effective.