image_description

Mortgage Rates

Today’s Mortgage Rates in Chicago

Let’s Talk

Today’s Mortgage Rates:

Loan ProgramRateAPR*
30-Year Fixed4.875%5.024%
15-Year Fixed4.375%4.643%
7/1 ARM4.750%5.190%
30-Year Fixed Jumbo4.875%4.906%
30-Year Fixed FHA4.875%5.045%
30-Year Fixed VA5.125%5.399%
*See below for rate and APR assumptions

As of 10:30AM CST, mortgage bonds are down 17 basis points. Existing home sales are down 3.4% for the month of September at approximately 5.15 million. On a year over year basis, sales are down 4%. Expected news coming next week should help the bond market.

Typically, mortgage rates will decline as the price on mortgage bonds decreases.  So, if today’s trend continues, rates could drift upward.

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.