Freddie Mac

New Mortgage Programs for Chicago First-Time Home Buyers

The challenge of saving for a down payment is a constant struggle for many first-time home buyers in Chicago. According to the Washington Post, the housing market is missing one specific group: young first-time home buyers. Realtors are commenting on the low numbers of this young generation that they are seeing in the marketplace. The …

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2013 Will Bring Low Mortgage Rates and Higher Property Values

The New Year is just around the corner, and Freddie Mac has released their economic and housing market outlook for 2013. According to the lender, long-term mortgages are expected to remain at record lows through the first half of 2013 and will rise steadily in the second half of the year. Current mortgage rates are …

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Mortgage Rates Inch Upward

Here’s something the struggling national and Chicago real estate industries haven’t seen for a while: Mortgage rates are no longer at record lows. Despite a mixed bag of economic data, mortgage rates rose this week for the first time in seven weeks. In fact, over the past 14 weeks, the average rate on the 30-year …

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The Consolation to Grim Economic Reports

The economy is struggling and mortgage rates are responding. Average fixed-rate mortgages fell to new all-time record lows for the sixth straight week in an effort to help keep homebuyer affordability high. Here are the mortgage rates for the week ending June 7, according to Freddie Mac: *30-year fixed-rate mortgage (FRM): Averaged 3.67 percent, down …

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