Chicago Mortgage News

Chicago realty: Still coveted
Chicago's real-estate market, still reeling from the Great Recession, remains one of the world's most-coveted and remains a growth opportunity for Cushman & Wakefield, says the new president and CEO of the world's largest private real-estate services company.

In Illinois, 1 in 10 mortgage holders missed payments
Almost one in 10 of Illinois' 1.7 million home mortgage loans were at least 30 days past due in the second quarter, a troubling sign that might spell more foreclosures in the future, according to new data released today. Read more in Chicago Breaking Business .

Chicago home debt adds to Rouson's financial woes
By Susan Taylor Martin, Times Senior Correspondent Thursday, August 26, 2010 Last year, State Rep. Darryl Rouson reported nearly $280,000 in income. Yet the St. Petersburg lawyer also has considerable debts among them, the loan on a Chicago house that has been in foreclosure. Rouson said he bought the house in 2005 so his daughter and stepdaughter would have a place to live while they were ...

Mortgage rates drop but houses still for sale
WASHINGTON Home prices in many parts of the country scream bargain, and mortgage rates havent been this low for decades. So why are houses across the nation sitting on the market for so long

Mortgages: Fixed mortgage rates fall in nine of past 10 weeks
Rates on fixed-rate mortgages hit another low this week, after recent reports showed drops in existing- and new-home sales, according to Freddie Macs weekly survey.

Foreclosure inventory down, new delinquencies up
CHICAGO (MarketWatch) -- The percentage of homes somewhere in the foreclosure process fell in the second quarter, the first drop since 2006 and the largest quarter-to-quarter drop since 2005, the Mortgage Bankers Association reported on Thursday. Still, the group's quarterly delinquency report showed that short-term delinquencies are increasing, which could signal another rise in foreclosures to ...

Nevada tops mortgage, credit card delinquency list
With Nevada's July unemployment rate leading the nation at 14.3 percent, the state is also on top of new lists covering mortgage and credit card delinquencies in the second quarter.

Chicago Fed Prez: Risk Up For Double-Dip Recession
If you weren't worried about a double-dip recession before, you might be a little more concerned now. Chicago Federal Reserve Bank President Charles Evans said the risks of a renewed recession happening went up in the last six months.

Chicago home sales plummet
Sales of existing homes in the Chicago area nosedived 25.1 percent in July, partly due to the end of a government tax credit program that had propped up the housing market for more than a year.