Mortgage rates in Chicago mostly fell this week. And a new report ranks the top suburbs in Chicagoland by home sales.
The benchmark 30-year fixed-rate mortgage in Chicago fell to 4.42 percent from 4.43 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.25 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.45 percent.
In January, home sales fell by 8.9 percent year-over-year in Chicago, according to a report from Chicago Agent Magazine. But some suburbs in the area still did very well. The magazine recently ranked the top 10 suburban housing markets in the Chicago area by the number of home sales in each.
Elgin, Aurora and Naperville all topped the list for detached single-family home sales. Aurora, Des Plaines and Schaumburg took the top three spots for attached single-family homes.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, fell to 4.29 percent from 4.31 percent. The benchmark 15-year fixed-rate mortgage fell to 3.44 percent from 3.47 percent. The benchmark 5/1 adjustable-rate mortgage remained at 2.97 percent.
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Weekly mortgage survey
|Results from Bankrate's March 5 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:||4.42%||3.44%||2.97%||4.29%|
|Change from last week:||-0.01||-0.03||N/C||-0.02|
|Change from last week:||-$0.98||-$2.42||N/C||-$4.89|