Mortgage rates in Chicago mostly fell this week. Meanwhile, Chicago's skyline is getting some new real estate.
This week's rates
The benchmark 30-year fixed-rate mortgage in Chicago fell to 4.03% from 4.06%, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.23 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.07%.
The Chicago skyline
The Chicago Plan Commission recently approved numerous projects that are set to change the Chicago skyline.
One of the tallest additions is the Vista Tower, which will be completed in 2019 and will hold the title of Chicago's 3rd-tallest building. It will contain 410 residential units, 210 hotel rooms and 334 parking spaces, notes Curbed.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, fell to 3.84 from 3.86%. The benchmark 15-year fixed-rate mortgage fell to 3.26% from 3.27%. The benchmark 5/1 adjustable-rate mortgage fell to 3.13% from 3.2%.
Weekly mortgage survey
|Results from Bankrate's Nov. 24 survey of mortgage lenders. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $417,000 in Chicago.|
|30-year fixed||15-year fixed||5-year ARM||30-year jumbo|
|This week's rate:||4.03%||3.26%||3.13%||3.84%|
|Change from last week:||-0.03||-0.01||-0.07||-0.02|
|Change from last week:||-$2.86||-$0.80||-$6.27||-$4.76|