Townstone Financial

Barry and Zach are back! Mortgage Market Update: rates, products, trends, and more. When does it make sense to rent vs. own? Credit card debt is increasing nationally, if this applies to you: tap into your existing equity with a HELOC or a HELOAN! As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

“Barbenheimer” dominated headlines this week as people went to the movie theaters in droves. But here in the mortgage world, we’re all waiting for Wednesday to watch what the Fed’s latest rate call will be. Another quarter-point hike has been priced in, but further moves are unclear, and their forward guidance will be key. Bank of America is in the news again. I think we all know it wasn’t GOOD news. Per Barron’s “Bank of America has been fined $150 million by regulators, who said the bank had wrongly charged customers with so-called junk fees, withheld credit card points, and used customer data to open unauthorized accounts.” You’d think these major banks with in-house legal departments would be following all rules and regulations, but alas… Do you have an adjustable-rate mortgage? Might be time to get out: 5-year ARMs from 2018 are set to adjust this year. 7-year ARMs from 2016 are set to adjust this year. 10-year ARMs from 2013 are set to adjust this year. Home Equity Loans and Lines of Credit remain a

Monday Blues? Turn that into GREEN when you tap the equity in your home with a home equity loan or line of credit. Consolidate those payments into a single new mortgage with fixed or variable terms! Inflation at Wimbledon? The price of strawberries and cream remains frozen for a tenth consecutive year – locked in an inflation-proof bubble at £2.50 (just over $3). Congrats to Carlos Alcaraz on his victory over Novak Djokovic in a match that almost lasted 5 hours! How loyal are you to your bank? Per Matt Levine of Bloomberg: “Relationship businesses in general are on the decline. In a world of electronic communication and global supply chains and work-from-home and the gig economy, business relationships are less sticky and ‘I am going to go into my bank branch and shake the hand of the manager and trust her with my life savings’ doesn’t work. ‘I am going to do stuff for relationship reasons, even if it costs me 0.5% of interest income, or a slightly increased risk of losing my money’ is no longer a plausible

NASCAR comes to Chicago in what appears to be a successful event that brought life-long fans of racing together with first-time locals. The city was a great backdrop, and it was nice to have good news coverage of Chicago for a change! 4th of July weekend brought some significant purchase activity to the Midwest. Some of you were enjoying BBQs with family and friends, while others were placing bids on new properties. While there may have been a slight slowdown in June, there’s been a flurry of buying and selling activity the last two weeks. MAKE SURE YOU ARE SHOPPING FOR THE BEST DEAL ON YOUR MORTGAGE! We’d like to think that every mortgage company out there is looking out for you, but the truth is: they aren’t. Here at Townstone, we are happy to step in and review the Loan Estimates from our competitors to tell you if you’re truly getting a square deal on your loan. Don’t settle for 2nd-rate service, higher closing costs, or higher rates! Townstone Financial has been helping people like you save money on t

In this era of divisiveness, it was nice to see the world come together last week to speculate on the fate of the adventurers who perished in the Titan “submarine” after paying $250,000 for the privilege. Barry and Zach are considering starting a rocket company to offer trips to the moon out of Barry’s garage, any takers? In real estate news: May 2023 saw listings of existing homes plummeting while at the same time, homebuilding projects surged in by the most in more than three decades. Mortgage rates have held relatively stable since the last Fed meeting when they decided against another immediate increase, but they did expect a further 2 increases before the year was out. If you’re in the market for a home purchase, refinance, home equity line or loan, reverse mortgage, or trip to the moon: make sure you head to Townstone.com to fill out a FREE consultation. We have more products, lower rates, lower costs, and better haircuts than the competion. So the decision is EASY!

Smog! Hazardous air quality continues to hit parts of the eastern U.S. Euro-zone OFFICIALLY hits a recession, but what about here? Investors flee Phoenix real estate market, but we're not seeing the same for residential real estate in the midwest. Taylor Swift brings hotel occupancy in Chicago to all-time highs! 1% downpayment purchases are still our latest and greatest offer to qualifying borrowers, while home equity loans continue to be a great solution for debt-consolidation or home improvements. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

What would happen to real estate and mortgage markets? In other news: Townstone has an incredible 1% downpayment purchase program for eligible borrowers. You put down 1%, the lender gives you an additional 2%, and the loan doesn't even have PMI (mortgage insurance) As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Real Estate and Mortgage Market Updates! Lack of housing inventory keeping home prices stable. Upcoming casino in Chicago redesign, will it help or hurt? Purchases and Cash-Out/Debt-Consolidation seem to be the name of the game lately. Townstone is always expanding our product portfolio to make sure you have the loan that's the best fit for you and your family. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Tucker is out at FOX and Lemon is out at CNN, but Barry and Zach are still here for you at Townstone! The spring purchase market is in full swing! It might be a good time to take another look at housing inventory that came to market this last month or two. Rents (at least in Chicago) continue to rise! We're hearing from people with landlords asking for 30% or higher year-over-year increases! Mortgage rates seem to have stabilized vs. the roller coaster we were dealing with at the start of the year, but is this new "normal" sustainable? We continue to expand our menu of loan products and options, so be sure to contact us for your next purchase, refinance, home equity line, home equity loan, reverse mortgage, bank statement loan, investor loan, and more! As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Mortgage rates are falling, but where is the bottom? Barry and Zach talk real estate, finance, and politics on this stormy election day from Townstone's studio in Chicago. We've been offering our clients the best in mortgage, home equity lines/loans, and reverse mortgages since 2002. Remember to fill out a FREE consultation at https://townstone.com/consultation-request/

The Federal Reserve released its decision to hike interest rates by a quarter percentage point following a two-day meeting, but indicated only 1 more increase this year. This is what we expected, but Barry and Zach have their thoughts. Cook County IL property tax bills are due 4/3! On that same note, the income tax filing due date is next month on 4/18! Be sure to make your payments on time and avoid the penalty. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Silicon Valley Bank Is For Sale! Are you in the market for a bank? Barry and Zach discuss the fallout and impact it's had on the mortgage market. FHA loans require 3.5% downpayment, but now Townstone is proud to offer a program that includes 3.5% downpayment assistance in the form of a forgivable 0% loan! It seems like we're getting new products and options for our borrowers every day, so be sure to fill out a free consultation request form on our website to stay in the loop. https://townstone.com/consultation-request/

Zach and Barry go through the mortgage and real estate process when working with Townstone Financial. Free Consultations Available by filling out the form at: https://townstone.com/consultation-request/

Barry and Zach discuss credit scores, how they're calculated, and some basic steps you should take to make sure you get the best possible rate on your next loan. Remember, we offer FREE 1 on 1 consultations through our website: https://townstone.com/consultation-request/

Whether you're just starting your homebuying journey or a seasoned pro, here are the top "Townstone Tips" to help you make the process easier. Barry and Zach share their top homebuying tips to help you navigate the complex and often overwhelming world of real estate. We discuss everything from understanding your budget, getting pre-approved for a mortgage, negotiating with sellers, and avoiding common pitfalls. Barry and Zach cover all the essential information you need to know to make your homebuying experience as smooth and stress-free as possible. FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Election Day in Chicago! Townstone product changes and additions! Mortgage market updates and predictions! As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Happy New Year! The stock market is already off to a rocky start but mortgage rates are holding steady for now. But what about property values? Will they retain their gains from the last few years? Barry and Zach are LIVE with their thoughts and predictions for 2023. Remember, we offer FREE consultations at https://townstone.com/consultation-request/ Purchase, Refinance, Home Equity Lines/Loans... get in touch TODAY!!!

Republicans take the house, Democrats keep the Senate, and life goes on! Mortgage rates take a temporary break from their 20-year highs, but is the relief only temporary? JPMorgan is about to spend $1 billion on hundreds of rental homes across the US on the way to becoming a “megalandlord” So how’s your day going? Let Townstone help you become your own landlord before these mega-corporations make it impossible for you and your family: https://townstone.com/consultation-request/

It’s election day here at Townstone! 2022 has been a rough year for real estate and mortgages as the average rate for a 30 year fixed pretty much doubled. Will Republicans take the House? Will they take the Senate? Will any outcome in today’s election help move interest rates back towards their 2021 lows? Barry and Zach discuss!

Townstone CEO Barry Sturner talks about paying off credit card debt with WGN's Steve Bertrand.