Rent vs. Buy? Zillow research finds it will take just 2.8 years for a renter in Chicago to reach the “break-even horizon – how many years of homeownership it would take before owning a home becomes more financially advantageous than renting the same home.” Nationwide, it’s 3 years.  Read more in the Chicago Tribune.

In other news:

U.S. regulators extend deadline for homeowners seeking foreclosure review. (Chicago Tribune)

Now is the right time to buy a house (Wall Street Journal)

Mortgage rates rise, ending record streak (CNNMoney)