Rates Drop to Lowest of 2011!, Buying Beats Renting!
Chicago Tribune and Chicago Sun Times prove that buying a home is better than renting. They also show that rates are the lowest they have been all of 2011!
Posted May 20, 2011

Share |
Buying Beats Renting! - Chicago Tribune
It is becoming more evident that buying a home is finally winning the battle over renting again! Home prices have dropped and Landlords continue to raise the rent. It is reported that Chicago apartment rentals are reaching the highs of 2007. Please forward this article on why you should buy to your potential buyers. Read Article

Fixed Rates Drop to Lowest Levels of 2011! – Sun Times
As the fixed mortgage rates fall, it is giving Americans more incentive to purchase homes. More good news for potential home buyers... Read Article

30 Year Fixed Rates at 4.500%
The 30 year fixed rate has remained at 4.500% this week. Remind potential home buyers that every 1.0% increase in interest rates equals a 10% decrease in borrowing power; meaning the payment for a $300,000 loan at 5% is the same as a $270,000 loan at 6%.

10 and 15 Year Fixed and ARM Rates Really Low
The 10 year fixed rate dropped to 3.375% for well qualified borrowers at loan amounts of $417,000 or less while the 15 year fixed dipped below 4% at 3.875% with -0- points; the 5/1 conforming ARM is as low as 3.125%, also with no points.

No comments have been left for this article yet.
Anyone is welcome to comment on our blog! All comments will be reviewed before they show on the site

Leave your comment

Your Name* Email*  
Your Comment:
     
United Home Loans Inc, Loans, Westchester, IL
Recent Blog Articles
HARP 2.0 Changes Help Illinois Homeowners

Home Sales Rise In the Greater Chicago Area

Illinois Mortgage Rates Hit New Lows!
Illinois mortgage rates are at all time lows! Now is the time to purchase or refinance your home before they rise!

Illinois Mortgage Approvals With As Little As 5% Down