Rates Blog

Finance Blogs » Rates Blog » Mortgage rates in Chicago

Mortgage rates in Chicago

By Claes Bell · Bankrate.com
Thursday, June 22, 2017
Posted: 10 am ET

Mortgage rates diverged in the Chicago area this week.

Key 30-year rate remains unchanged in Chicago

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Chicago area held at 3.98 percent, according to Bankrate's national survey of large lenders.

The mortgages in the survey for this week had an average of 0.17 discount and origination points.

Monthly payments on a hypothetical $165,000 30-year fixed-rate mortgage were also constant, remaining at $785.83.

No clear direction for other Chicago mortgage types

The average rate for 30-year jumbo mortgages also didn't move this week, remaining at 3.83 percent. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Chicago area, that limit is $424,100.

The average rate for 15-year fixed-rate mortgages ticked upward 2 basis points, up to 3.26 percent. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage moved up with rates, climbing $1.61 to $1,160.21.

The benchmark 5/1 adjustable-rate mortgage rate grew 3 basis points this week, up to 3.33 percent. The most common type of variable-rate mortgage, 5/1 ARMs allow homeowners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after.

Compare mortgage rates in your area now.

Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted June 21, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $424,100 in the Chicago area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week's rate: 3.98% 3.26% 3.33% 3.83%
Change from last week: N/C +0.02 +0.03 N/C
Monthly payment: $785.83 $1,160.21 $725.35 $1,983.37
Change from last week: N/C +$1.61 +$2.73 N/C

Methodology: The "Bankrate.com National Average," or "national survey of large lenders," is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the Bankrate.com national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison.

To learn more about the different rate averages Bankrate publishes, see "Understanding Bankrate's Rate Averages."

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
87 Comments
http://ipopo23.livejournal.com
June 21, 2017 at 9:24 pm

I regard something genuinely interesting about your site so I bookmarked .

Alta
May 14, 2017 at 5:12 am

What's up, this weekend is fastidious in support of me, for the reason that this occasion i am reading this fantastic
educational article here at my home.
fotballdrakter barn

Jacquetta
April 22, 2017 at 10:59 am

you are in reality a good webmaster. The web site loading velocity is amazing.
It kind of feels that you are doing any distinctive trick.
Furthermore, The contents are masterwork. you have done a great job in this
matter!
Juventus 43 Alessandro Semprini drakt

Lupe
April 21, 2017 at 11:25 pm

You are so interesting! I don't suppose I've read through anything like that before.

So good to discover another person with some genuine thoughts
on this subject matter. Seriously.. thanks for starting this up.
This website is something that's needed on the internet, someone with some originality!

manchester city trøje

Wyatt
April 21, 2017 at 6:42 pm

I do consider all the ideas you've offered for your post.
They're really convincing and can definitely work. Still, the posts are too quick
for starters. May just you please prolong them a
bit from subsequent time? Thank you for the
post.
ffotballdrakter

Adrian
April 21, 2017 at 6:12 pm

What's up mates, its enormous piece of writing concerning cultureand completely explained, keep it up all the time.

fotballdrakter barn

Randi
April 21, 2017 at 4:27 pm

What's up, its nice post concerning media print, we all know media is a wonderful source of facts.

Juventus fotbollströjor

Earlene
April 21, 2017 at 3:34 pm

Asking questions are truly pleasant thing if you are
not understanding anything entirely, but this post gives good understanding even.
juventus trøje børn

Add a comment

(Comments may take 5-10 minutes to appear)