Chicago Housing Market Home Prices: Not on par with national growth - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Thursday, January 31, 2013

Chicago Housing Market Home Prices: Not on par with national growth

Based on the recent report released Tuesday, January 29, 2013, home prices have increased nationally. The S&P/Case-Shiller Home Price Indices shows home prices rose 4.5% for the 10-city composite and 5.5% for the 20-city composite. The report covers a 12 month span that ended in November 2012.

Unfortunately, the Chicago market is one of the cities that have fared the worst with more than six months of declining prices in the past 12 months. Although this is not great news for sellers, buyers can still take advantage of the current home prices in the Chicago market.

Overall, this report indicates that housing is contributing to overall economic growth. While cities like Chicago may be lagging, housing in other areas of the country like Wisconsin, Michigan and Minnesota are recovering.

If you’re in the market to buy a home, consider getting a free pre-approval today to know what you can afford. United Home Loans provides Illinois mortgage loans, Michigan mortgage loans, Wisconsin mortgage loans and Minnesota mortgage loans.

Current Mortgage Rate Information as of January 31, 2013 Below:

Illinois Mortgage Rates

Illinois 30 Year Fixed as of January 31, 2013 3.375%/3.495 APR

Illinois Jumbo 30 Year Fixed as of January 31, 2013 4.000%/4.099 APR

Please click this link for APR assumptions and more IL mortgage rates

Michigan Mortgage Rates

Michigan 30 Year Fixed as of January 31, 2013 3.375%/3.495 APR

Michigan Jumbo 30 Year Fixed as of January 31, 2013 4.000%/4.099 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates

Minnesota 30 Year Fixed as of January 31, 2013 3.375%/3.495 APR

Minnesota Jumbo 30 Year Fixed as of January 31, 2013 4.000%/4.099 APR

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates

Wisconsin 30 Year Fixed as of January 31, 2013 3.375%/3.495 APR

Wisconsin Jumbo 30 Year Fixed as of January 31, 2013 4.000%/4.099 APR

Please click this link for APR assumptions and more WI mortgage rates

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