Archive for Housing Crisis

Chicago Home Prices Hit 11-Year Low

Talk about a buyer’s market: Chicago real estate prices are as low as they were more than 11 years ago. According to the Standard & Poor’s Case-Shiller Index, single-family home prices throughout the Chicago area fell 1.9 percent in January — the fifth straight monthly drop —  and were 6.6 percent lower than they were [Read More]

March 28, 2012 | Author: Tracey | Comments: (0) | Categories: Chicago Real Estate News, Economy

Housing Crisis Most Cited Amongst Miserable Cities

Hey Chicago real estate owners and renters: Are you happy? According to one magazine, the answer is no. Forbes magazine has released its list of America’s Most Miserable Cities with two Illinois cities ranking in the top 10: Chicago sits sadly at No. 6 and Rockford took the No. 9 spot. The magazine measured 10 [Read More]

February 07, 2012 | Author: Tracey | Comments: (0) | Categories: Awards, Chicago Real Estate News

Mortgage Rates Hit More Historic Lows

As long as they keep falling, we’re going to keep telling you about them. The economy continues to struggle and mortgage rates continue to drop. This week each mortgage option reached a new all-time low except the 1-year ARM, which actually posted an increase. Mortgage rates for the week ending February 2, according to Freddie [Read More]

February 02, 2012 | Author: Tracey | Comments: (0) | Categories: Economy, Mortgages

Pending Home Sales Down, Outlook Up

As if to prove a point, data presented this week showed that pending home sales in December fell off a nearly two-year high and declined more than expected. The Pending Home Sales Index (PHSI), which can predict future activity since it’s based on contract signings not closings, dropped 3.5 percent to 96.6 in December from [Read More]

January 26, 2012 | Author: Tracey | Comments: (0) | Categories: Economy

President Addresses State of Housing

President Barack Obama had a lot to talk about during his annual State of the Union Address presented on Tuesday, including our country’s desperate need for jobs, the big gap between the few that are rich and the many that are struggling, and the challenge of reviving the American Dream, which includes homeownership. The President [Read More]

January 25, 2012 | Author: Tracey | Comments: (0) | Categories: Economy, Featured

Mortgage Modification “Principals”

2012 marks the start of the housing crisis’ fifth year, and the problem still has not been solved. Although initial projections for the amount of progress have not been met, an increasing number of Americans are being kept in their homes, including Chicago real estate, according to a recent article by Mercury News. Only $2.5 [Read More]

January 17, 2012 | Author: Stephanie | Comments: (0) | Categories: Chicago Real Estate News, Economy

Mortgage Lender to Seek $6 Billion from Taxpayers

Mortgage rates are down again, and so is the company that provides them. Mortgage-lending giant Freddie Mac reported Thursday that the 30-year fixed rate mortgage (FRM) averaged 4.00 percent for the week ending November 3. That’s the second lowest reading on record since October 6, when the rate averaged an unprecedented 3.94 percent. All the [Read More]

November 03, 2011 | Author: Tracey | Comments: (0) | Categories: Economy
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