Free Book: 33 Ways To Sell Your Home Fast

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Property Values Rise

Property values in the state rose 6.2%, according to a report from the Public Policy Forum. Ozaukee County was up 6.6%; Washington County, 5.7%; Racine County, 5.6%; Milwaukee County, 5.5%; and Waukesha County, 5.1%.

Chenequa, in Waukesha County had nearly 1 million in equalized property value per resident whereas Whitewater, in Walworth County had only $49,079 in property value per resident according to the study.

Walworth and Kenosha Counties which are nearest Illinois had the largest increases; up 10.5% and 7.2% last year.

Thursday Rates

Rates are still very low.

Today a 30 year fixed rate mortgage is available at 6.0%
A 20 year fixed rate is available at 6.0% as well.
A 15 year fixed rate mortgage is available at 5.5%

These rates apply to borrowers with credit scores over 680 and 20% equity in owner occupied properties. Certain restrictions apply. The APRs are 6.19% on the 30 and 20 year and 5.69% on the 15 year. Call 414-416-9194.

What Lender Do You Use

We use many different lenders to help you in getting the loan program that is right for you and also pays our light bill. For example we may use a lender that you have heard of like Chase, Wells Fargo, Countrywide, or Bank of America. We may use a lender which you have never heard about. We shop daily so you don't have to shop. We are your one stop shopping source. We receive the rate at a wholesale rate and pass much of the savings on to you. We offer a lower rate in most cases than you would receive if you saw the big name lender at a retail location. They pay us to bring them business. That is our role. Call for details.

Prime Rate Drops to 5.25%

The prime lending rate is now just 5.25% which is great news for consumers looking for home equity lines of credit. A home equity line of credit can be used on an as needed basis. When you draw off your line that's when the interest starts otherwise you pay no interest! For consumers with credit scores over 740 we offer a Home Equity Line at prime minus 0.10% or currently just 5.15%. You must open a line with a minimum of $150,000 to obtain this rate. This is a no closing cost line of credit. If you prefer to have a lower rate and pay closing costs we offer that as well. Call me to apply today. 414-416-9194

Federal Reserve Cuts Rate by 75 Basis Points

The Federal Reserve cut a key lending rate Tuesday by three fourths of a point in an attempt to lower borrowing cost for banks and some consumers to rekindle the economy.
The cut was in line with expectations and will lower the prime lending rate to 5.25%.
The prime lending rate is used to set consumer loans, home equity lines of credit and other loans; it is not related to 30 year fixed mortgage rates.

Chase Buys Bear Stearns for $2

Chase bought Bear Stearns Monday, the fifth largest investment bank for $2 a share or $236 million dollars, a deal that includes a Manhattan building worth more than $1 billion. On Wednesday Bear Stearns reaffirmed they had a book value of $84 a share.

Rates Improve

We expect mortgage rates to improve Friday based on weak employment numbers released Friday morning. If you are in the market to refinance today would be a good day to apply with us before the market corrects and you lose your advantage. Call 414-416-9194 now.

FHA Loan Limits Increase

FHA loan lending limits have now increased to $315,000 in Milwaukee and Waukesha Counties. Homeowners will now be able to refinance into a government insured loan up to 97% of the value of their home at a low fixed rate with no pre-payment penalty. This lending limit is an increase of nearly $100,000.