Illinois Mortgage News

The Latest News and Developments For
Illinois Mortgages

Illinois Mortgages Latest Breaking News

• Rates on 30-year mortgages rise again, to 6.45%  USA Today - Jun 27 6:39 AM Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting concern about how the Federal Reserve will respond to higher inflation pressures.



• HSBC Mortgages to lay off 48 in Chesepeake  AP via Yahoo! News - Jun 26 11:39 AM  Forty-eight workers at HSBC Mortgage Services' Chesapeake facility are losing their jobs.



• Rates on 30-year mortgages rise to 6.45 percent  Washington Post - Jun 26 10:47 AM WASHINGTON -- Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.



• Rates on 30-year mortgages at 9-month high  Contra Costa Times - Jun 26 7:27 PM Summary



• HSBC Mortgages to lay off 48 in Chesepeake  San Francisco Chronicle - Jun 26 12:18 PM Forty-eight workers at HSBC Mortgage Services' Chesapeake facility are losing their jobs. HSBC Mortgage Services notified state officials of the layoffs this week. The notice says the layoffs are effective Aug. 17 and are due to a permanent reduction of the...

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Adjustable-rate mortgages (ARMs) in Illinois are characterized by a low, fixed interest rate that later resets to a variable rate. ARMs might be best for self-employed borrowers whose income fluctuates with the economy, or borrowers who need a low payment in the first one, three, or five years of the loan.