Town Team Mortgage: Your Guide to the 2025 Chicago Air and Water Show!
Updated: Aug 26
The dog days of summer are here. The mortgage market keeps shifting, but the skies over Chicago this weekend promise a show worth looking up for.
Whether you're checking out open houses or camped out by the lakefront, here’s your quick update on what’s happening in housing, the economy, and our hometown.
Mortgage Rates and Real Estate: Stable With a Side of Optimism
Mortgage rates and real estate have held relatively steady in recent weeks. The average 30-year fixed mortgage rate is hovering around 6.7%. While this is still higher than recent historical norms, stability in inflation and job growth are leading some analysts to predict gradual rate improvements heading into fall.
If you're waiting for a big drop in rates before making a move, remember: trying to time the market perfectly is like trying to catch the Blue Angels with a butterfly net. Instead, focus on real estate readiness. This means getting pre-approved, budgeting realistically, and working with a team that understands your goals.
🏡 Town Team Tip: Locking in a rate now and refinancing later when rates drop can often beat waiting on the sidelines and missing out on the right home.
Housing Market Update
Current Inventory Trends
Inventory: Modestly improving, especially in suburban areas.
Prices: Holding firm in most Chicago-area neighborhoods.
Buyer Activity: Up from spring thanks to clearer rate expectations and seasonal energy.
First-time buyers are still facing competition, but not the frenzy of the 2021–2022 peak. Patience and preparation are your best tools right now.
Economic Overview
The July jobs report came in solid. Unemployment is holding at 4.0%, and wage growth continues at a modest pace. Consumer spending remains strong, particularly in travel and hospitality. These are good signs for broader economic confidence.
The Federal Reserve is still watching inflation closely but hasn’t signaled any urgent rate hikes. This gives the market some breathing room.
Look Up! The Chicago Air and Water Show Returns
This weekend (Aug. 17–18), the Chicago Air and Water Show roars back to life. You can expect thrilling performances from the U.S. Navy Blue Angels, the U.S. Army Parachute Team Golden Knights, and other jaw-dropping acts over Lake Michigan. It’s one of the best (and free!) shows of the summer. This event is a reminder of what makes Chicago such a vibrant place to call home.
Whether you’re soaking up the sun at North Avenue Beach or listening from a rooftop deck, take a moment to enjoy this uniquely Chicago tradition.
Planning Your Weekend
Best Viewing Spots
North Avenue Beach: A popular spot for sunbathers and show watchers alike.
Rooftop Decks: Enjoy the view with a drink in hand.
Parks along the Lakefront: Perfect for families and picnics.
Tips for Enjoying the Show
Arrive Early: Get a good spot before the crowds.
Bring Snacks: Stay energized while you watch.
Stay Hydrated: Keep cool in the summer heat.
Final Thought: Keep One Eye on the Sky, the Other on the Market
As summer winds down, it’s a great time to revisit your homeownership goals. Are you ready to buy? Need to explore refinancing options? Want help making sense of it all?
We're here to help you fly through the mortgage process (without the turbulence).
📞 312-896-2114
Conclusion: Embrace the Excitement
The Chicago Air and Water Show is not just an event; it’s a celebration of community and spirit. As you enjoy the spectacle, remember that the housing market is also full of opportunities. Whether you're buying, selling, or refinancing, staying informed is key.
So, as you look up at the sky, keep your feet grounded in the market. The perfect moment to act may be just around the corner.
