First Time Home Buyers
Interest rates continue to rise as mortgage backed securities continue to sell-off for the fifth consecutive trading session.
Mortgage rates, today, are better than they really ought to be after a miserable run like this. If you’re looking for a silver lining, that is it. We’re still predicting mortgage rates to react to tomorrow’s Federal Reserve announcement. On the daily updates, we posted a piece today on the relationship between the Fed Funds rate and mortgage rates.
Current Chicago Mortgage Rates
| No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. | ||
| 30 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.750% | 1.12% | 4.914% |
| 4.875% | 0.50% | 4.986% |
| 5.000% | 0.00% | 5.061% |
| 20 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.625% | 1.10% | 4.785% |
| 4.750% | 0.32% | 4.845% |
| 4.875% | 0.00% | 4.913% |
| 15 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.250% | 0.73% | 4.375% |
| 4.375% | 0.00% | 4.430% |
| 4.500% | 0.00% | 4.513% |
| 7/1 ARM | ||
| Rate | Discount Points | APR |
| 3.750% | 1.29% | 3.915% |
| 3.875% | 0.85% | 4.005% |
| 4.000% | 0.46% | 4.100% |
| 5/1 ARM | ||
| Rate | Discount Points | APR |
| 3.375% | 1.36% | 3.540% |
| 3.500% | 1.00% | 3.638% |
| 3.625% | 0.71% | 3.741% |
| FHA 30 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.750% | 1.21% | 5.659% |
| 4.875% | 0.68% | 5.738% |
| 5.000% | 0.00% | 5.772% |
| Assumptions | ||
If you enjoyed this article, please consider sharing it!
