Mortgage Rates Inch Up

Mortgage rates up for first time in 7 weeks

10:18 12/14/2006, CNNMoney.com
Mortgage rates turned slightly higher from mixed economic signals after reaching near their lowest level of the year last week and rallying from a decline for six weeks in a row, a survey said Thursday.

Rates to (Possibly) Stay Put

This news release was sent from the Associated Press on the 'hint' (its always a hint) that the Fed would not be lowering their short term rates. Predictions were that they would either maintain current rates or possible reduce them next month. Looks like we're looking at steady as she goes for the moment...but don't hold your breath.

AP - Even with the economy in a slowdown mode, Federal Reserve Chairman Ben Bernanke made clear Tuesday that policymakers want to see inflation continue to recede, suggesting the Fed probably won't be cutting interest rates any time soon.

Carbon Monoxide Mandate

Carbon Monoxide Required in 2007

Illinois state legislation has just approved this mandate requiring Carbon Monoxide detectors in all Illinois residences beginning January 1. That goes for rental units as well.

Here is the IAR blurb on the topic with a few links as well. Tell your clients to get them in now (if they are not already installed).

Beginning Jan. 1, 2007, Illinois law (Public Act 94-741) mandates that every dwelling unit in Illinois must be equipped with at least one carbon monoxide alarm within 15 feet of every room used for sleeping purposes. A dwelling unit would include a single-family residence as well as each living unit of a multiple-family residence and each living unit in a mixed use building. Here are some resources developed via the IAR Advocacy Initiative to help you communicate this information to your clients: