The pace of mortgage applications fell 7.7% in the week ended Feb. 10, the Mortgage Bankers Association reported. 

Builder confidence rose for the second consecutive month in February with a seven-point increase that brought it to its highest level since last September, the National Association of Home Builders said. 

With the spring housing market just around the corner, homebuyers are getting more for their money as their mortgage payments are stretching further than they have in recent months.

Forty-eight percent of mortgaged homes were equity rich in the fourth quarter of last year.

The 30-year fixed rate fell for the fifth week in a row, giving a lift to lending activity, the Mortgage Bankers Association said. 

Multigenerational homes are defined by NAR as homes where families live under the same roof with grandparents, adult children or other extended family members.

We all know that the competition in Chicagoland real estate is fierce, and when it comes to building a reputation and attracting clients, numbers matter.

Homebuyers can now afford $400,000 homes with $2,500 monthly budgets for the first time in four months, according to a new report from Redfin.

Homebuyers are returning, but sellers still aren’t filling the need as inventory remains low.

Homebuyer demand is rising, as mortgage applications rose 28% since November, and more prospective buyers are scheduling home tours.

The median sales price of a new home was down on a monthly basis but up on an annual one. 

Brokers and their clients got a bit of relief in the fourth quarter, as interest rates began to decline. Check out our quarterly Real Data report in collaboration with Midwest Real Estate Data.

House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.   

More buyers have entered the market in the past four weeks as mortgage rates fell.

The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index. 

Redfin attributes the drop to the record high mortgage rates, recession concerns, record low inventory, extreme winter weather and the holiday slowdown.