Mortgage rates in Chicago were mixed this week. And a report from RealtyTrac says that the best day to buy a home in Chicago this year has already come and gone.
This week's rates
The benchmark 30-year fixed-rate mortgage in Chicago rose to 4.01% from 3.95%, 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 4.01%.
The best day to buy in Chicago
Sept. 30 was the best day to buy a home in Chicago this year, according to a new report from RealtyTrac.
That's when prospective homebuyers would have received the biggest discount on a home in the area -- a 10% discount.
Overall, the best month to buy a home is October, notes the report.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 3.74% from 3.73%. The benchmark 15-year fixed-rate mortgage fell to 3.16% from 3.21%. The benchmark 5/1 adjustable-rate mortgage fell to 2.97% from 2.98%.
Weekly mortgage survey
|Results from Bankrate's Sept. 30 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:||4.01%||3.16%||2.97%||3.74%|
|Change from last week:||+0.06||-0.05||-0.01||+0.01|
|Change from last week:||+$5.72||-$3.99||-$0.89||+$2.37|