Cnbc.com
Mortgage rates rose for the third straight week just prior to Memorial Day to the highest level since January, but some homebuyers were undeterred. Mortgage applications to purchase a home climbed 2% compared with the previous week and were 18% percent higher than the same week one year ago, according to the MBA’s seasonally adjusted index.
House Passes Tax Reform Package with Key Wins for Real Estate
realtor.org
The bill retains the current tax rates while including a range of NAR-supported provisions, including an increase in the qualified business income deduction and quadrupling the SALT deduction.
MISMO Publishes Enhanced Reference Models
Mba.org
MISMO®, the real estate finance industry’s standards organization, announced that enhancements to the MISMO Version 3.6 Reference Model and the new MISMO Version 3.6.1 Reference Model have reached “Candidate Recommendation” status, which means that they have been thoroughly reviewed by a wide range of organizations and industry participants and are available for industry use.
2025 Illinois Home Sales Fell in April, while Median Prices and Inventory Increased
illinoisrealtors.org
Year-over-year closed home sales decreased in Illinois during April, while median prices and inventory went up, according to data from Illinois REALTORS®. In April 2025, statewide home sales (including single-family homes and condominiums) of 11,308 homes sold was 3.4 percent less than 11,705 sold in April 2024.
Want to learn More About Online Fraud and get CLE Credits?
Sign up for our June 10 CLE course at Prairie Title featuring Scott Lascari,
Illinois State Agency Counsel, Fidelity National. You’ll learn about AI, social media & fraud challenges to Your Practice. Register here.
