Mortgage rates in Chicago were mixed this week. Meanwhile, Chicago was ranked as one of the top construction markets in the country.
This week's rates
The benchmark 30-year fixed-rate mortgage in Chicago remained at 4.06 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.42 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.1 percent.
Chicago is a top construction market
According to a new report from Dodge Data & Analytics, Chicago had the sixth-best construction market through the first nine months of 2014.
In fact, construction starts totaled $7.5 billion. That's a 23 percent increase from a year prior, notes Chicago Agent Magazine.
Chicago beat out Atlanta for the sixth spot.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, remained at 3.95 percent. The benchmark 15-year fixed-rate mortgage rose to 3.29 percent from 3.23 percent. The benchmark 5/1 adjustable-rate mortgage remained at 3.02 percent.
Weekly mortgage survey
|Results from Bankrate's Nov. 19 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:||4.06%||3.29%||3.02%||3.95%|
|Change from last week:||N/C||+0.06||N/C||N/C|
|Change from last week:||N/C||+$4.83||N/C||N/C|