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Chicago June 2016 Newsletter
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Chicago Family,

June is already off to a hot start, and I'm not just talking about the temperatures. Median sales price was up almost 4% in May! Homes for sale dipped by 9%, but under contract soared by 11%. This means buyers are waiting for a solid listing to jump on! We have seen a huge increase of buyers which means our sellers are thrilled! If you are even curious what your home is worth please reach out. I would love to dicuss.
Go Cubbies!

-Joshua
Chicago News

Home Prices to Maintain Strong Growth

Surf at Montrose Beach?

June- Chicago Events

North Park Still Rebounding?

Gondola Anyone?

Featured Listing

163 W Division St #210

Top 7 Things Your Realtor Wish You Knew

Joshua T. Novy
Broker Associate

Referrals are the greatest compliment, and a huge part of my business. I will treat your referral like family.

Most Realtors are in the Real Estate business. We are in the PEOPLE business.
Farmers Market Schedule
Read More

Why Sellers are So HAPPY!
Read More

Email Me Now!
1325 W Greenleaf, Chicago IL
  • Weekly Initial Jobless Claims will be released on Thursday as usual.
  • Friday brings several reports, including Retail Sales, the Consumer Sentiment Index andProducer Price Index.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based. 

When you see these Bond prices moving higher, it means home loan rates are improving. When Bond prices are moving lower, home loan rates are getting worse. 

To go one step further, a red "candle" means that MBS worsened during the day, while a green "candle" means MBS improved during the day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning. 

As you can see in the chart below, Mortgage Bonds remain near 52-week highs, helping home loan rates hover near historically-low levels.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday May 06, 2016)
 
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Joshua T. Novy - Broker Associate
TeleQuest Realty - 773.454.5595 - joshua@novyknows.com
"Experience... NOW more than ever!"
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Copyright © 2015 TeleQuest Realty, All rights reserved.
1255 N. Clark St. #1601 Chicago, IL 60610

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TeleQuest Realty · 47 W. Division St · Chicago, IL 60610 · USA

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