Mortgage rates in Chicago were mixed this week. And a new report says home sales are rising in just one Chicago county.
This week's rates
The benchmark 30-year fixed-rate mortgage in Chicago rose to 4.2 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 0.27 discount and origination points. Nationally, the 30-year fixed-rate mortgage was 4.3 percent.
Home sales rise in Will County
Will County was the only county in the Chicagoland area where home sales rose from January through May of this year, according to data from the Chicago Association of Realtors and Midwest Real Estate Data LLC.
Crain's Chicago Business notes that a low supply of homes for sale and hefty price jumps have led to lower sales numbers in other metropolitan areas of Chicago.
Will County, however, has plenty of homes for sale with lower prices than other areas. Consequently, home sales have gone up by 6 percent from the same period last year, notes Crain's.
The benchmark 30-year jumbo mortgages, for loans of $417,000 and up, rose to 4.2 percent from 4.18 percent. The benchmark 15-year fixed-rate mortgage fell to 3.31 percent from 3.32 percent. The benchmark 5/1 adjustable-rate mortgage remained at 2.97 percent.
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Weekly mortgage survey
|Results from Bankrate's July 16 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:||4.20%||3.31%||2.97%||4.20%|
|Change from last week:||+0.02||-0.01||N/C||+0.02|
|Change from last week:||+$1.93||-$0.80||N/C||+$4.87|