Mortgage rates in Chicago rose this week. Meanwhile, Chi-town colleges are bidding for President Barack Obama's future library and museum. And there's a Frank Lloyd Wright house stuck on the market.
This week's rates
The benchmark 30-year fixed-rate mortgage in Chicago rose to 4.28 percent from 4.18 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.3 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.33 percent.
Chicago schools bid on Obama's library
The University of Chicago and the University of Illinois at Chicago are both in the running to win the bid for Obama's presidential library and museum, which will be home to documents, exhibits and programs about the Obama administration, notes the Chicago Sun Times.
Those two Chicago colleges are competing with Columbia University in New York and the University of Hawaii in Kalaoa.
In other real estate news, the William Winslow House -- Frank Lloyd Wright's first independent commission -- is now on sale for $1.7 million in the Chicago area, according to Curbed. The completely restored home has been on the market since last December, when it was priced for $2.4 million.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 4.2 percent from 4.1 percent. The benchmark 15-year fixed-rate mortgage rose to 3.42 percent from 3.29 percent. The benchmark 5/1 adjustable-rate mortgage rose to 3.13 percent from 3.02 percent.
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Weekly mortgage survey
|Results from Bankrate's Sept. 17 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:||4.28%||3.42%||3.13%||4.20%|
|Change from last week:||+0.10||+0.13||+0.11||+0.10|
|Change from last week:||+$9.71||+$10.53||+$9.92||+$24.41|