With the holiday season coming to a conclusion, there was little in the way of data releases. Last week, the main reports were the Chicago Business Barometer and the ISM Manufacturing Index, both indicating a slight contraction in the manufacturing sector. This comes as we await the upcoming administration change at the White House. The impact of this is relatively minimal, with lending rates continuing their downward trend. Next week we will be expecting the year-over-year for both the Consumer Price Index (CPI) and Producer Price Index (PPI), wrapping up 2024. Chicago PMI The Chicago Business Barometer, also known as the Chicago PMI, dropped further to 36.9 in December 2024, compared to … [Continue Reading...]
As we step into a new year, it’s the perfect time to focus on understanding and improving your credit score. Whether you’re planning to buy a home, refinance, or simply enhance your financial health, your credit score plays a pivotal role in shaping your opportunities. Let this be the year you clean up your credit and take control of your financial future! What is a Credit Score? Your credit score is a three-digit number, typically ranging from 300 to 850, that represents your creditworthiness. It’s used by lenders to assess how likely you are to repay debts on time. Scores above 700 are generally considered good, while scores above 800 are excellent. A strong credit score … [Continue Reading...]
When you’re looking to purchase a home or refinance an existing mortgage, understanding how mortgage rates are determined is key to navigating your financial journey. These rates are influenced by a combination of personal financial factors and broader economic conditions, which work together to impact how much you’ll pay over the life of your loan. 1. Your Credit Score One of the most significant factors influencing your mortgage rate is your credit score. This three-digit number reflects your financial responsibility and creditworthiness. Borrowers with higher credit scores typically receive lower interest rates because they are considered less risky by lenders. To improve your … [Continue Reading...]
As we step into 2025, I want to express my heartfelt gratitude to all my clients and those considering the journey to homeownership. A new year means fresh opportunities to turn your dreams into reality. Whether you're planning to buy your first home, refinance, or invest in your future, I’m here to help every step of the way. Let’s make this year the one where your goals come to life. Wishing you health, happiness, and success in 2025! … [Continue Reading...]
As we approach the end of this year, we can’t help but reflect on the incredible journey we’ve had together with all of you. This year has been filled with growth, new opportunities, and the realization of long-held dreams, whether it’s buying a new home, refinancing to secure a better rate, or exploring the best mortgage options available. We are honored to have played a part in helping so many of you achieve your homeownership goals. As we look forward to the new year, we are excited to continue guiding you through the ever-evolving landscape of home financing. With the challenges and triumphs of the past year in mind, we are ready to face the future with renewed … [Continue Reading...]
With Christmas concluding the prior week, there were few reports other than Consumer Confidence, which had come in slightly below expectations. This should prove to have little impact, especially in the following week. With the New Year on the horizon, there are no reports other than the Chicago Manufacturing output report for the entire week. Happy Holidays! Consumer Confidence A post-election pop in consumer confidence fizzled at the end of the year, owing to worries about the U.S. stock market and a potentially higher cost of living as a result of new tariffs. The index of consumer confidence dropped 8.1 points to a three-month low of 104.7 in December, the privately run Conference Board … [Continue Reading...]
