Barry and Zach do a brief rundown of the variety of mortgage and equity products Townstone can offer:

1. Purchases - 1st time or 100th time

2. Rate and Term Refinances

3. Cash Out Refinances

4. Home Equity Loans

5. Home Equity Lines of Credit

6. Reverse Mortgages

7. Business Bank Statement

8. Investor/Rental Property

Or just go to townstone.com and fill out a request for a FREE consultation and you'll be speaking with one of us in no time at all!

After hitting the highest levels in 20+ years, mortgage rates are easing!

But would lower rates improve affordability for buyers or could there be some unintended consequences as more buyers come off the sideline to take advantage.

Artificial Intelligence is coming for your job! How to mitigate the potential damage from Skynet.

Realtors are feeling the heat as a federal jury ruled that the powerful National Association of Realtors and several large brokerages had conspired to artificially inflate the commissions paid to real estate agents, a decision that could radically alter the home-buying process in the United States. The almost 2 BILLION dollar ruling might only be the first domino to fall.

Townstone has the best products to fit your needs: Home Equity Loans, Home Equity Lines, 1% down payment purchases, conventional, FHA, VA, reverse mortgage, and many more!

We know you're a smart person and smart people use Townstone.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Cook County tax bills are out payable due 12/1/23. It seems like everyone is dealing with higher taxes, but what about the lucky few who saw their bills decrease? We know you're out there!

Anecdotally, we're seeing upticks in refinance activity as people look to take advantage of their home equity to consolidate debt or build a cash-cushion for the future.

Townstone offers multiple 1st and 2nd lien products to help you achieve this as we head towards the holiday season.

Bonds/Mortgages hold steady as market awaits FED decision on Wednesday. No increase is expected.

Also coming later this week: several key employment reports, including ADP’s employment change figures and JOLTS job openings on Wednesday, and the September jobs report on Friday. The data will give investors hints about the state of the labor market after last week’s weekly initial jobless claims suggested it may be cooling slightly.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

While mortgage rates are starting the week lower compared to the last, they are still near their highest levels in 20 years. But home values don’t seem to be dropping as a result. Housing inventory remains low and as long as that remains the case, we can expect a continued “stalemate” between lending rates and home prices.

If you want to be optimistic, there is some evidence that the worst is over. Mortgage News Daily is reporting that “the balance of recent Fed comments suggest the Fed is done hiking rates unless inflation flares up in an unexpected way. As of Friday 10/20/23, the market saw next year's Fed Funds Rate about a quarter of a point lower.”

The 10yr Treasury at 5% is an important psychological level as it becomes an attractive entry point for bond buyers, which puts resistance/a ceiling at 5% and could help prevent higher mortgage rates for borrowers. We all wish we had a magic 8-ball and could predict the future, but the FED’s future actions will be driven by economic data.

The next FED rate announcement is on November 1st which means we are now in the scheduled “blackout” period and shouldn’t expect drastic movement until next week. Of course, “shouldn’t” is not the same as “won’t” and we continue to watch the charts.

Fill out the form for a FREE consultation at Townstone.com to see if you qualify for one of our many products including:

1% Down-Payment Purchase

Home Equity Loans and Lines

Reverse Mortgages

And you can always call us at 312-896-2100 with your thoughts, questions, scenarios, or anything else we can help you with. FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Happy Monday!

We start the week with the stock market showing about 1% gains across the DOW, NASDAQ, and S&P 500.

The 10 Year Treasury is hovering above 4.7% after closing last week at 4.6%.

Tech employees continue to struggle with Microsoft-owned LinkedIn laying off nearly 700 employees.

With Microsoft's recent acquisition of Activision Blizzard, Lululemon is set to replace them in the S&P 500 at open on 10/18.

Purchase contracts are still coming in as Townstone continues to offer the best in service, products, rates, and costs.

Debt-consolidation also seems to be a major need right now as high interest rate debt crushing many consumers.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Mortgage rates and bond yields are higher Monday after Congress managed to avoid a government shutdown Saturday night, less than three hours before the deadline. But are we in for the same down-to-the-wire brinksmanship in 45 days when the temporary funding bill expires?

Consumer spending in August 2023 was up 5.8% compared to August 2022. Per the Wall Street Journal, the "experience economy" boomed this summer, with Delta Air Lines reporting record revenue in the second quarter and Ticketmaster selling over 295 million event tickets in the first six months of 2023, up nearly 18% year-over-year. But is it truly sustainable as U.S. household credit card balances rise and their savings account balances drop?

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Today is National Cheeseburger Day which perfectly encapsulates the adage "penny smart, dollar foolish".

Sure, you can save a couple of dollars on a cheeseburger today, but you can save $40 each month just by getting a 0.25% decrease on your mortgage rate (assuming $250,000 balance).

Here at Townstone, we ENCOURAGE our customers to shop for the lowest rate! Why? Because we know we have the best in the industry. Combine that with our variety of loan products and unparalleled customer service, the only reason you wouldn't use Townstone is Zach's insistence on wearing black every day....

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Mortgage Rates are straddling a range around 7%-7.25% according to Mortgage News Daily and homebuyers are scrambling to find properties before winter.

Inflation Watch: The producer price index increased a seasonally adjusted 0.7% in August, higher than the 0.4% estimate. However, excluding food and energy, core PPI rose 0.2%, in line with the estimate. The European Central Bank increased their rate another .25%. What does that mean for Americans watching the Federal Reserve?

Average credit card balances continue to increase, is the consumer spending boom over?

To those who celebrate Rosh Hashanah: Wishing you and your families a sweet and happy new year!

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Mortgage rates started the week higher on Tuesday, but we're seeing some softening in the days since.

Lots of purchase activity as the summer ends, are buyers settling or are more sellers coming to the table?

We need to correct one of the biggest misconceptions about the current market: underwriting guidelines have NOT gotten stricter for residential mortgages. Commercial loans are another thing entirely...

Future of the Fed? While 93% of traders are pricing in a rate pause at September’s Fed meeting, futures hikes aren’t off the table. Expectations for an additional increase in November have risen to 45%, according to the CME Fed Watch tool.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

With 30 year mortgage rates hitting almost 8% for some borrowers, relief for borrowers might be in sight!

It's a big week for economic data with ADP payroll and Q2 GDP set to report on Wednesday followed by ISM Manufacturing on Friday.

Inflation expectations are around 2% month-over-month, but the FED seems hesitant to signal anything to the market.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/