The 10-year treasury hit a 2-year high yesterday of 2.89%. That is pushing mortgage rates up over 4.5%. Many people who were looking to buy properties this summer have already locked in lower rates. Many locks are good for up to 3 months so properties that went under contract even 60 days ago that haven’t […]
Crain’s has picked up on a theme we’ve been chattering about here in the last few months. Inventory of new construction condos, outside of the luxury towers at the Ritz and 2550 N. Lakeview, are almost non-existent. Anything that IS on the market at lower price points, such as in the newly reconfigured Related buildings in the […]
Crain’s has the numbers from Tracy Cross & Associates on the new home sales in the second quarter in Chicago and the Chicagoland area. Given the strength in the resale market, you might have guessed that it is shaping up to be the best year for the homebuilders since the bust. In the second quarter, […]
Welcome back from the holiday break Crib Chatterers. Last week 30-year mortgage rates rose to a national average of 4.46% from 3.93% the week before, the largest one week increase since 1987. It pushed mortgage rates to their highest level in 2 years. Rates may go even higher this week as, while you were all […]
It has been one of the most anticipated buildings to begin closings since the real estate bust. The Ritz-Carlton Residences at 664 N. Michigan in River North finally began closings in February 2013 after several delays. Only if you looked at public records, it seemed as if nothing was closing despite the fact that, apparently […]