This Week in Real Estate: Record Rates, Cheap Property and the Promise of Homeownership

by Chicago Agent

Mortgage rates fell to new lows this week...could they go any lower?

A quick rundown of the most savory real estate news from the week of Oct. 3 – Oct. 7, by the numbers:

3.94 – that’s the current percentage rate for the 30-year FRM; we’d call it a historical low, but with “Operation Twist” in full force, it may get even lower next week!

$3,287 – the cost, per square foot, for property in Paris; for comparisons sake, the U.S.’ most expensive market, New York, is just $1,068 per square foot. And Chicago? $158!

70 – the percentage of respondents to a Trulia survey who still value homeownership, even in uncertain economic times.

19.4 – the percentage of HAMP loans that went two months without a payment a year after refinancing, which is 14 percent lower than private sector refinancing totals.

0.4 – the percentage that the CoreLogic Home Price Index declined in August, a possible foreshadowing for Oct. 25’s Case-Shiller.

$1.07 million – what disgraced ex-governor Rod Blagojevich is selling his Ravenswood home for. He’s not going to give it up for nothing.

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