Morning Minute: Mortgage rates reverse recent upward trend

Fixed mortgage rates that had been climbing in recent weeks, pulled back this week averaging 3.59 percent for a 30-year mortgage and 2.86 percent for a 15-year mortgage, Freddie Mac reported today. Despite some deceleration in overall economic activity, the housing market continued to show improvement over the past few months, said Frank Nothaft, vice president and chief economist for Freddie Mac.

In other news:

Illinois Attorney General announces $4.7 million grant for legal assistance for struggling Chicago and Cook County homeownersChicago Sun-Times

Report shows foreclosure settlement’s early reachChicago Tribune

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