Archive for June, 2009



Existing home sales rose 18.7% in Chicago from April to May but are still down 27.5% from May of last year, according to data from the Illinois Association of Realtors. Within the city, the median price rose 2.3% to $225,000, which is still 29.5% down from last year as well.

Prepaying your mortgage

From the Tribune, this article answers a reader question about paying down your mortgage–i.e. putting a little extra toward the principal each month–even when you already have a low interest rate:
One of the great benefits of prepaying your mortgage is that each prepayment is applied toward the principal of the loan. Because you’re paying interest [...]




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