Residential mortgage rates fell for a nee record low with the average rate for a 30 year fixed loan at 4.56%  – down from 4.57 last week. This is the lowest rate since 1971, the year that Freddie Mac  began tracking rates. 15 year fixed rates dropped to 4.03%, down from 4.06 last week and [...]

Dear Readers: Great news, the House passed, overwhelmingly, the extension of the Homebuyer Tax Credit which will allow buyers an extra 3 months to complete their purchases and qualify for the tax credit. Homebuyers who signed a contract by April 30 will now have until Sept 30 to complete their financing obligations and close on [...]

30-year fixed mortgage interest rates jumped to 5.21 percent for the week of April 8 from 5.08 percent the prior week. The 15-year fixed rate climbed to 4.52 percent from 4.39 percent. The five-year adjustable rate rose to 4.25 percent from 4.1 percent. The one-year ARM edged up to 4.14 percent from 4.05 percent.

Foreclosure vs. Short Sale You can’t talk to someone or pick up a newspaper and the topic of the struggling real estate market comes to the forefront. Real estate foreclosures and short sales are hot topics right now, but do you know what the difference is? Here a short tutorial to get your facts straight [...]

As of 1/22/2010 mortgage interest rates dropped for the 3rd straight week, forcing the 30 year fixed rate below 5% to 4.99% compared to 5.06 a week ago. Rates at this time one year ago on a 30 year fixed was 5.16%

2009 was a tough year for everyone and there is no time like the New Year to get your credit score in order and repair any damages made in the past 12 months.  I read a great article in Chicago Realtor  magazine that offered sound advice on how to get your credit under control and ready for [...]

Take note Chicago, mortgage interest rates have had a big drop. 30 year fixed mortgage rates dropped 11 basis points from last week ( a basis point is one-hundredth of 1%) to 5.59%! 15 year fixed dropped to 4.93% and the 5 year arm dropped to 5.05%. Per the Mortgage Bankers Association, mortgage applications were up last [...]

If you are thinking of buying or selling a condominium in Chicago the attached video is a very important and very informational discussion with David Hanna the current President of the Chicago Association of Realtors regarding the current federal mortgage guidelines. This segment of his interview with YoChicago.com outlines the unique difficulties being faced by [...]

Per the Illinois Association of Realtors, Chicago area homes sales fell 18.7% in May compared to last year.  Some good news, sales INCREASED over  the previous month for the fourth straight time. In Chicago, the median home price fell 29.5% in May to $225,000 compared with $319,000 in May of 2008. Per David Hanna – [...]

Per Realty Times,  a campaign to extend the First Time Home Buyers Tax Credit got underway on Capitol Hill last week.  Bills have been introduced in both the Senate and the House to do the following: Open the Credit to ALL Buyers Keep it Available through Next Year Remove the current Income Limitations Allowing Current [...]