There was continuing moderate economic growth in January and February as consumer spending, manufacturing production and business spending improved, according to the latest Federal Reserve Beige Book. The Seventh District in Chicago, reported modest gains in construction and real estate activity as home prices and rents increased and sales held steady. The commercial real estate sector saw even greater gains as rents rose, vacancies declined and leasing activity increased. Read the report for the Seventh District.
In other headlines:
Mortgage Rates Move Lower – Freddie Mac reports today that fixed mortgage rates declined this week for the first time in four weeks.
Housing Market Gets Stronger in 2015 – Kiplinger reports that 2015 is expected to be a solid year for the housing market as a stronger economy combines with pent-up buyer demand.
Could Chicago’s Willis Tower get a new name (again)? – The Willis Tower (formerly the Sears Tower) could soon have a new owner, and potentially a new name. The Belleville News-Democrat has the Chicago Tribune story. Read more.