Home Sales in Chicago Continue to Improve from Last Year - 07/26/10 04:18 PM
The numbers for June's Chicago home sales are out and they are looking good. Once again, there were year-over-year gains in the city and surrounding area. According to data from the Illinois Association of Realtors, condo and single-family home sales in Chicagoland climbed 27.2% in June from the same month in 2009. That marks a full year of improvement in greater metro Chicago Real Estate market. The city itself also experienced increased buyer activity in June with a 27.5% jump in residential real estate sales. A total of 2,526 transactions took place in the city last month (1,559 condos and 967 … (0 comments)

Record Low Mortgage Rates Continue - 07/15/10 12:58 PM
Fixed 30-year mortgage rates crept a little lower this week to 4.57% after setting a record low last week at 4.58%. The rates are the lowest on record since Freddie Mac started tracking mortgage data in 1971. The last time rates dipped below this level was in the 1950s, well before consistent documentation was kept.
A downward trend for 30-year fixed-rate mortgages has been evident for the past year. Monthly average rates have jumped between 5.2% and 4.7% over the last 12 months. It was 5.22% during the same week of July in 2009 and has consistently hovered near or under … (0 comments)

Housing Market News Update - 07/02/10 12:33 PM
An extension of the federal tax credit closing date is one step away from being passed. After a unanimous vote in favor of the bill from the Senate yesterday, the measure has only to be approved by the president now. The extension will give eligible homebuyers three additional months to close on their homes in order to receive the federal tax credit.
While President Obama has yet to sign the bill into law, he is expected to do so shortly. Under the current guidelines, the deadline to close for the tax credit was yesterday (June 30th). Under the new proposal, … (0 comments)

 

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