Mortgage Rates

Today’s Mortgage Rates in Chicago

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Today’s Mortgage Rates:

Loan ProgramRateAPR*
30-Year Fixed4.700%4.878%
15-Year Fixed4.250%4.516%
7/1 ARM4.375%5.169%
30-Year Fixed Jumbo4.625%4.693%
30-Year Fixed FHA4.625%5.490%
30-Year Fixed VA4.750%5.016%
*See below for rate and APR assumptions

As of 09:30AM CST, the mortgage bond market is just slightly higher, with stocks a bit lower as well. Reports from the Bureau of Labor Statistics show 155,000 new jobs in the month of November, coming in 190,000 less than expected. Unemployment remains stable at a rate of 3.7%; the lowest level in almost 50 years.

Typically, mortgage rates will decline as the price on mortgage bonds increases. Expected news coming in the following week will likely influence the bond market and mortgage rates.

Mortgage rates can and do change daily.  If you are considering a purchase or a refinance, you should monitor interest rates very closely as small differences in rate can add up to thousands of dollars in interest over the life of the loan.

It’s the biggest purchase of your life. Talk to an expert.

Call us at 708-531-8388 or contact us below for a quote customized to your situation.

Rate Assumptions

*Annual Percentage Rate (APR) calculations assume single-family, detached, owner-occupied primary residence in Illinois; a loan-to-value ratio of 80% or less for conventional and 75% or less for jumbo loans; a minimum FICO score of 740 for conventional and jumbo, and a loan amount of $300,000 for conforming loans or $750,000 for jumbo loans, unless otherwise specified; rates are subject to change without notice; subject to underwriter approval; not all applicants will be approved; fees, charges, and restrictions may apply.