Mortgage Business Down in Chicago

Mortgage rates

In Chicago, news got it that mortgage rates on the most popular home loan feel again this in such a way that it hasn’t been since June 2013. For example, the average rate on a 30-year fixed-rate mortgage was 3.92 percent, compare to the 3.97 percent last week and 4.13 percent in the same week last year. Freddie Mac’s weekly survey confirmed this.

However, this week’s rate compares to a 15-year, fixed-rate mortgage with 3.18 percent last week and 3.24 percent a year ago. This week’s decline is largely attributed to the yields on 10-year treasury notes, which trusted sources maintained dropped to the lowest this year.