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On today's episode of the Townstone Financial Show, Barry and Zach dive into the hot topics shaping the mortgage market on the eve of Election Day! With the final votes being cast tomorrow, they discuss how the potential election results might impact mortgage rates, the housing market, and the financial landscape as a whole. Will new policies or economic shifts come into play? And what should homeowners, buyers, and investors expect? Barry and Zach bring their expert insight and analysis to help listeners prepare for what’s to come. Don't miss this timely conversation!

On today’s Halloween episode of the Townstone Financial Show, Zach and Barry tackle some of the "spookiest" misconceptions haunting the mortgage and housing markets. From fears of skyrocketing rates to concerns about an impending market “crash,” they shed light on the truth behind these eerie assumptions. Plus, they’ll reveal why some “tricks” in the industry may have hidden “treats” for savvy buyers and homeowners. Grab your favorite Halloween candy and tune in for a show filled with facts, fun, and financial insight—no tricks here! www.townstone.com

Townstone is still helping our customers close on their purchases, home equity lines/loans, and refinances in 30 days or less. With our 24 hour prequalification guarantee, there is still time to purchase your dream home or condo before the end of the year! Consumer credit cards continue to hit record balances and record interest rates! If you have equity in your property, we can help you with a new home equity line of credit or home equity loan to consolidate your debt, lower your monthly payment, and put you on the best possible financial footing before we hit 2025. Call Zach at 312-896-2114 to discuss your scenario. A preliminary chat only takes 5-10 minutes and is FREE with absolutely zero commitment. We start the week with stocks showing moderate weakness while the 10 Year Treasury Yield is fighting to stay below 4.2%. With the next FED announcement still over 2 weeks away, the odds of further cuts has dropped to 85% according to the CME FedWatch, with 15% of respondents expecting no further cuts at the n

The S&P 500 hits another record high along with Barry’s favorite Nvidia. Gold is also trading at a record high on election and inflation uncertainty. The 10 year Treasury yield is back above 4% after better-than-expected retail sales and a drop in jobless claims. Does this impact the trajectory of future possible Fed rate cuts? FTC announces new “Click to Cancel” rule helping consumers with those pesky subscriptions that are easy to signup for but seemingly impossible to cancel. Highlights: “Important information must be truthful, clear, and easy to find. People have to know what they’re agreeing to before they sign up. Sellers have to be able to show that people knew what they agreed to before they signed up. There always has to be a way to cancel that’s as quick and easy as it was to sign up. Sign up online? Click to cancel. Signed up in person? Cancel online or over the phone. Violators can be liable for redress and civil penalties.” Zach likes it, Barry….? 12 million pounds of ready-to-eat chicken product

U.S. Treasurys aren’t trading today, and the USPS isn’t delivering mail. But the stock market and pretty much everything else is open, making this one of the least observed Federal holidays on the calendar. This week Zach and Barry do their best to stay on topic and discuss the current housing market, interest rate trends, and money saving tips as we head towards the holiday season. We’ll remind you that Townstone Financial is the #1 independent mortgage company offering our clients the lowest rates and closing costs combined with the best customer service. So head to www.townstone.com for a FREE consultation. We’re offering same-day prequalification for purchases, debt-consolidation refinances, home equity lines, home equity loans… You name it and we offer it or can refer you to someone who does.

Last week’s payroll report showed: Nonfarm payrolls surging by 254,000 in September, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate falling to 4.1%, down 0.1%, as the survey of household employment showed an even stronger picture, with a gain of 430,000. Average hourly earnings increased 0.4% on the month and were up 4% from a year ago. Both figures were ahead of respective estimates. And this weekend, Goldman Sachs lowered their odds of a recession to just 15%, meaning there’s no better chance of a recession now than there is under any other normal circumstances. This might all seem like GOOD news, and it is for the country at large. But those of us in the mortgage world, see things a bit differently. Good news for jobs, payrolls, and recession risk is BAD news for those of you hoping for lower interest rates. As a result, mortgage rates are higher today vs. just a week ago and lots of people have been sitting on the sidelines watching rate

Barry and Zach are live with the latest in mortgages, real estate, finance, and everything else! With a current Fed Funds rate of 525-550, CME FedWatch is now predicting for the 9/18/24 meeting: a 61% drop to 475-500 a 39% drop to 500-525 That’s a complete reversal from last week when the market likelihood was 70% for 500-525 and only 30% for 475-500. So what has changed in the last 7 days? The 10 year treasury yield has pretty much stayed below 3.7% for the last two weeks. Are we due for a reversal or will it continue to trend downward? Finally, we are now offering higher maximum conforming loan limits! $802,650 and lower for a 1-unit residence is now considered “conforming” and not a “jumbo mortgage”. So visit www.townstone.com for a FREE 1 on 1 consultation for your next purchase, refinance, home equity loan, reverse mortgage, or home equity line of credit. We have the best rates, the lowest closing costs, and unparalleled customer service. See for yourself why we’re the #1 independent mortgage compa

It’s Barry vs. Zach every week talking mortgages, real estate, finance, and going on tangents. Actually, the tangents are probably 90% or more of the show’s runtime. Inflation appears to be cooling according to the U.S. Bureau of Labor Statistics. We have Apples down 14%, Gasoline down 10%, Used cars/trucks down 10% Other products don’t seem to be moving much like new cars, utility gas service, and breakfast cereal (or dinner cereal depending on the time of day you eat it) Social Security recipients could be seeing a low cost-of-living adjustment this year at 2.5%, says independent analyst Mary Johnson. Compare that to a 5.9% increase in 2022, 8.7% increase in 2023, and 3.2% increase in 2024. Remember to visit www.townstone.com for a FREE mortgage consultation. We'll help you on your next purchase, refinance, home equity product, reverse mortgage... basically all of your residential real estate financing needs under one roof!

Happy Monday! Stocks are up, Bond Yields are down, Oil is still below $70 per barrel, and Zach and Barry are LIVE! The Chicago Bears edged out the Titans to start the season 1-0 while both American finalists in the U.S. Open (tennis) came in 2nd… Apple, the maker of iPhones/iPads/Etc… (not the fruit) announces new watches, AirPods, and iPhones. Zach is excited, Barry is indifferent. Fill out a FREE consultation at www.townstone.com for your next purchase, refinance, home equity product, reverse mortgage, or with tips for Zach’s upcoming trip to Italy.

Payrolls, Payrolls, Payrolls! We all love Rolls. Dinner Rolls. Cinnamon Rolls. Tootsie Rolls.... But today, Barry and Zach are discussing PAYROLLS! According to ADP, private sector payrolls grew at the weakest pace in more than 3½ years in August, providing yet another sign of a deteriorating labor market. But Barry says to "hold your horses" because ADP's numbers are often wrong. What we're REALLY looking at is the upcoming jobs report from the Labor Department which may set the tone for Federal Reserve policy and possible rate cuts through the end of the year. Remember to visit townstone.com for your FREE mortgage consultation. We've been the #1 independent mortgage company since 2002 and will make sure to get you the loan and customer service that you deserve!

After Monday’s mid-podcast tantrum, Barry is back talking to his best buddy Zach about mortgages, real estate, economics, and anything else that suits their fancy. Tip for anyone communicating with Zach and the English language in general: Don’t use the word “literally” unless you mean it. Correct use of literally: “Barry and Zach are literally recording the Townstone Financial Show at their studio located in the City of Chicago.” Incorrect use of literally: “I’m so tired that I could LITERALLY sleep for a year.” Or “That guitar solo LITERALLY melted my face off” The guys also talk about the ongoing US Open (Zach talks, Barry rolls his eyes). Remember, FREE consultations available at townstone.com Have a great rest of your week and happy Labor Day!

Barry STORMS out of the podcast because he doesn't want to hear about the difference between "literally" and "hyperbole". But if you can't handle the heat, get out of the podcast studio! Compared to the 1968 Democratic National Convention, 2024 came and went without a hitch! Regardless, Zach was out of town because he hates traffic! A FED rate cut in September seems like a foregone conclusion at this point, so it can only have a negative impact on mortgage rates if they don't follow through. The US Open starts today and Zach will be watching his favorites: Djokovic and Alcaraz (sorry Americans, we haven't been at the top of global tennis since the days of Sampras and Agassi) As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

AND Barry and Zach are LIVE again!!! The Olympics came to a close this weekend with Team U.S.A dominating the total medal count! That closing ceremony and subsequent “handoff” to L.A. was interesting to say the least… Mortgage rates are back in the news as the 10-Year Treasury Yield has held below 4% for the last 2 weeks or so. CME FedWatch is predicting that the Federal Reserve will ease rates at their September meeting next month, but by how much? Looking ahead to the end of the year, we’re seeing predictions for everything from 3.75%-4.75%. Remember though, MORTGAGE RATES ARE NOT CONTROLLED BY THE FED! Current mortgage rates already reflect the market expectations of future Federal Reserve cuts. That means that mortgage rates won’t change if the FED does everything the market already expects, mortgage rates are more likely to change if the FED (or other current events) go against the predictions that are already built-in to the market. There is still time to get prequalified and into a home before the leav

It’s finally happened! The US 10-Year Treasury Yield has dropped below 4%! This is exactly what Zach and Barry have been telling our audience for months. Did you purchase or refinance between October-December 2023? NOW is the time to reach out to Barry or Zach (or fill out a FREE consultation request at Townstone.com) to see about refinancing to a lower rate so you can save money and interest! Refinancing can significantly reduce your monthly payments and the total interest paid over the life of your loan. Why pay more when you can pay less? Trick question! You shouldn’t! In unrelated news, guess whose air conditioning went out yesterday during one of the hottest and most-humid days of the year? If you guessed “Zach”, you win a pat on the back from yourself. After 2 hours of troubleshooting, turns out it was the thermostat itself that went bad. Who’d imagine? So tune in to the Townstone Financial Show this week (and EVERY week) for real estate insight, mortgage tips, and occasionally comedy! Have a great

Happy Monday! In today’s episode, Barry and Zach dive into a mix of financial insights and pop culture fun. First up, we break down what to expect from the upcoming July Federal Reserve meeting which starts tomorrow. The CME FedWatch isn’t expecting any change from the Fed until September, but we won’t know for sure until the announcement on Wednesday. Next, Zach shares his thoughts on the latest Deadpool & Wolverine movie. And Robert Downey Jr. is coming back to the MCU, just not as Ironman? Whether you’re a fan of the Marvel universe or just curious about the film, Zach’s review offers a blend of humor and critique that you won’t want to miss. Just know there might be a few spoilers, so don’t say we didn’t warn you! And as always, we bring you the latest updates on mortgages and the real estate market. From interest rates to housing trends, we cover everything you need to know to make informed decisions in today’s market. Join us for an episode that’s both informative and entertaining, blending serious f

The 2024 Summer Olympic Games are upon us! Zach wonders why the “Opening Ceremony” is scheduled for 7/26, but events Soccer, Rugby, Archery, and Handball are currently ongoing. What is Handball anyways? Barry and Zach also dive into the latest economic news and its implications for the mortgage and housing markets. With the U.S. economy showing a 2.8% growth rate in the last quarter (gross domestic product as reported by the Commerce Department), Barry and Zach discuss how this unexpected economic strength, coupled with easing inflation, might influence mortgage rates and home affordability. What does it all mean for potential homebuyers, current homeowners, and renters alike? Today’s housing market is filled with both challenges and opportunities, including the impact of high home prices and mortgage rates on buyer sentiment. Tune in to hear Barry and Zach’s predictions for the coming months and practical advice for navigating these turbulent times. So sit back, enjoy the show, and GO TEAM USA!!! Towns

Did you manage to snag any good deals? U.S. shoppers spent a record $14.2 billion online during Amazon’s two-day Prime event, up 11% year over year, according to Adobe Analytics data. Remember, it’s only a “deal” if you’re buying something you would’ve already bought, not some “chazerai” that’ll only be collecting dust in the garage next week. More important than saving money on your TV, vacuum, paper towels, etc… is saving money on your mortgage! Instead of saving $10, $50, or even $1,000, you could save multiple thousands of dollars with a lower mortgage rate or closing costs by working with Townstone. This week the Midwest saw a series of storms (tornadoes, rain, wind, hail, cats/dogs….) Hopefully you and your family made it out unscathed along with your property. We like to take events like these as a good reminder to review your homeowner’s insurance policy to check your deductibles, premium, and possible exclusions. Housing inventory in the Chicago area seems to be picking up as many of our prequalif

The consumer price index (CPI) rose 3% in June 2024 compared to the 9.1% pandemic-era peak in 2022. We are nearing the Federal Reserve’s target of 2%, so what comes next? After years of waiting, this is the best sign yet that the Fed will enact a rate cut in September with the possibility of further cuts as we head into 2025. We continue to see lots of purchase activity as inventory increases, but let’s talk about home equity products for a moment. Two big misconceptions we’re seeing right now: 1. Can you refinance your 1st mortgage after opening a home equity line or loan? Yes. It simply requires what is called a “resubordination” where the 2nd mortgage holder agrees to remain in 2nd lien position. What you can’t do is a cash-out refinance of a 1st mortgage without paying off the 2nd mortgage because then it weakens their 2nd lien position. 2. Will you lose your home if you default on your home equity line or loan? While you can theoretically be foreclosed on if you default on the 2nd mortgage, it’s nearly u

Freddie Mac gets conditional approval to enter the Home Equity Market, what does that mean for you? We’ll continue to watch this development, but in the meantime, it’s still a GREAT time to look at a home equity line or loan. Why? You can use your equity to consolidate credit card debt, make home improvements, or even gamble on cryptocurrency! We even now have a FIXED-RATE Home Equity Line of Credit! Practically unheard of until now! Call Zach at 312-896-2114 for the details and to see if you qualify. Are you building Social Security into your retirement plans? Not so fast! According to the SSA Board of Trustees' latest estimates, released in May 2024, the OASI (Old-Age and Survivors Insurance) fund -- which covers retirement and survivors' benefits -- is expected to be depleted by 2033. That’s less than 10 years for those of you who are too lazy to count. In items that grind Zach’s gears: Netflix, Hulu, Disney+, HBOMax, Amazon Prime, Paramount+… what do they all have in common? Yes, they’re all streaming

Mortgage Rate Watch: With markets closed yesterday for Junteenth, we’re ending the week with slightly higher mortgage rates vs. Monday/Tuesday. According to First American Data & Analytics’ latest Home Price Index (HPI) report, home price appreciation appears to be “normalizing” nationwide with a few interesting tidbits: 1. Home prices are now 54.6% higher than pre-pandemic levels 2. Homes in the Starter Tier appreciated in price at a much higher rate than those in the Mid-Tier and Luxury-Tier. Lack Of Financial Knowledge Leads Borrowers To Overpay Survey data from the Federal Reserve Bank of Philadelphia revealed that a large fraction of borrowers overpay for their mortgage, varying with borrower types and with market interest rates. Researchers call this “financial sophistication” and say it is the key reason for overpayment. Townstone has been helping people secure mortgages with the lowest rates and costs, combined with the best customer service since 2002. You don’t have to be sophisticated to fill out a