Mortgage rates plunge ?What this means for homebuyers and sellers | ChicagoNOW
Mortgage rates just saw their biggest one-day drop in months?hitting their lowest level since late 2022. The average 30-year fixed rate dipped to 6.13% on Tuesday, as investors anticipate a widely expected rate cut by the Federal Reserve. But as we?ve seen before, what looks like relief for homebuyers can quickly shift?especially if rates move unexpectedly after the Fed?s decision.
Mortgage rates just saw their biggest one-day drop in months?hitting their lowest level since late 2022. The average 30-year fixed rate dipped to 6.13% on Tuesday, as investors anticipate a widely expected rate cut by the Federal Reserve. But as we?ve seen before, what looks like relief for homebuyers can quickly shift?especially if rates move unexpectedly after the Fed?s decision.
Monthly mortgage payments are the highest they’ve been in decades
Consumers are dealing with the rigors of finding a reasonably priced home but soaring mortgage payments are placing a financial dent on their budgets, according to recent data.
Consumers are dealing with the rigors of finding a reasonably priced home but soaring mortgage payments are placing a financial dent on their budgets, according to recent data.
HOME Investment Partnerships Program may be cut by feds: What is it?
The HOME Investment Partnerships Program, a decades-old federal grant that has funded more than a million affordable homes, could be cut under President Donald Trump’s budget proposal, raising alarms for rural communities.
The HOME Investment Partnerships Program, a decades-old federal grant that has funded more than a million affordable homes, could be cut under President Donald Trump’s budget proposal, raising alarms for rural communities.
Why more Chicagoland homebuyers are walking away from housing contracts
This summer, purchasing agreements are seeing an uptick in cancellations as more homebuyers back out. Baird & Warner's Sammy Lubeck breaks down what's happening in the Chicagoland market in relation to this.
This summer, purchasing agreements are seeing an uptick in cancellations as more homebuyers back out. Baird & Warner's Sammy Lubeck breaks down what's happening in the Chicagoland market in relation to this.
You can still buy a mansion for under $1M in these 4 cities
Mansions can costs millions of dollars, but consumers looking for more space can buy one of these sprawling homes at a reasonable price in these cities.
Mansions can costs millions of dollars, but consumers looking for more space can buy one of these sprawling homes at a reasonable price in these cities.
Here's where home equity has grown the most
Rising housing prices are causing changes in home equity gains nationwide, according to a recent study.
Rising housing prices are causing changes in home equity gains nationwide, according to a recent study.
Chicago suburbs crack down on short-term rentals | ChicagoNOW
More and more Chicago suburbs are tightening the rules and banning short-term rentals altogether. While they're popular with travelers, some local leaders say they're causing problems, from parking headaches to loud parties to safety concerns.
More and more Chicago suburbs are tightening the rules and banning short-term rentals altogether. While they're popular with travelers, some local leaders say they're causing problems, from parking headaches to loud parties to safety concerns.
TikTok star Dean Lauvina talks Chicago's hottest rentals and going viral | ChicagoNOW
If you've ever scrolled on TikTok and wondered what it's like to live in one of those stunning high-rise apartments in Chicago, you've probably come across Dean Lauvina (@deanchicagoliving) and his series "How much do you pay for rent in Chicago?" He discusses what's hot in the Chicago rental market right now and what renters should know before signing on the dotted line.
If you've ever scrolled on TikTok and wondered what it's like to live in one of those stunning high-rise apartments in Chicago, you've probably come across Dean Lauvina (@deanchicagoliving) and his series "How much do you pay for rent in Chicago?" He discusses what's hot in the Chicago rental market right now and what renters should know before signing on the dotted line.
Chicago City Council effort to expand 'granny flats' put on hold
The Chicago City Council did not vote Wednesday on a proposal to make it easier to create more accessory dwelling units across the city after two aldermen blocked the measure.
The Chicago City Council did not vote Wednesday on a proposal to make it easier to create more accessory dwelling units across the city after two aldermen blocked the measure.
Chicago City Council effort to expand 'granny flats' put on hold
The City Council did not vote on a proposal to make it easier to create more accessory dwelling units across the city.
The City Council did not vote on a proposal to make it easier to create more accessory dwelling units across the city.
Homeowners are falling behind on mortgage payments in these states
A new study shows rising taxes and insurance costs are driving up mortgage delinquencies. Here’s where.
A new study shows rising taxes and insurance costs are driving up mortgage delinquencies. Here’s where.
Will Chicago allow more ?granny flats?? Alders to take up controversial issue
Chicago alders will consider allowing more accessory dwelling units, or ADUs, to provide more affordable housing.
Chicago alders will consider allowing more accessory dwelling units, or ADUs, to provide more affordable housing.
Will Chicago allow more ‘granny flats’? Alders to take up controversial issue
Chicago alders will consider allowing more accessory dwelling units, or ADUs, to provide more affordable housing.
Chicago alders will consider allowing more accessory dwelling units, or ADUs, to provide more affordable housing.
Black homebuyers are 1.7 times more likely to be denied a mortgage: study
Black homebuyers are 1.7 times more likely to be denied a mortgage compared to all other homebuyers, a new analysis found.
Black homebuyers are 1.7 times more likely to be denied a mortgage compared to all other homebuyers, a new analysis found.
These cities are the best and worst for renters in 2025, study shows
Rental prices can vary depending on where you live, but these places offer buyers quality options.
Rental prices can vary depending on where you live, but these places offer buyers quality options.
Cities with the most pet-friendly landlords
Your chances of finding a pet-friendly rental are higher in some cities than others. Here's the list.
Your chances of finding a pet-friendly rental are higher in some cities than others. Here's the list.
Purchase of Pope Leo XIV?s childhood home OK?d by Dolton Village Board
The Dolton Village Board voted to approve the purchase of the childhood home of Pope Leo XIV during a meeting on Tuesday night.
The Dolton Village Board voted to approve the purchase of the childhood home of Pope Leo XIV during a meeting on Tuesday night.
Here's how much you need to earn to buy a home in 2025, report shows
A recent housing report reveals that prospective homebuyers are facing obstacles to affording a home based on rising costs, which is a contributing factor to lower homeownership rates.
A recent housing report reveals that prospective homebuyers are facing obstacles to affording a home based on rising costs, which is a contributing factor to lower homeownership rates.
Illinois needs 227,000 more homes by 2030 to keep up with demand, new report says
A new study found that Illinois needs to build 227,000 new homes by 2030 to keep up with rising demand.
A new study found that Illinois needs to build 227,000 new homes by 2030 to keep up with rising demand.
Illinois needs 227,000 more homes to meet demand, new report finds
Nearly a quarter of a million new homes will have to be built in Illinois over the next five years to keep up with rising demand, according to a new report.
Nearly a quarter of a million new homes will have to be built in Illinois over the next five years to keep up with rising demand, according to a new report.