Mortgage Loans in Arlington Heights, IL

Federal Funds Rate - Trends & Analysis:

Today’s Fed Funds Effective Rate is 4.00%, higher than 7, 30, 60, and 90 days ago when it was 3.75%. When the Fed Funds rate rises, it can increase mortgage rates because lenders face higher borrowing costs.

Credit Union Loan Rates - Trends & Analysis:

I. H. Mississippi Valley offers a 15-year conventional fixed rate at 6.0%, up 13 bp from last week, and a 30-year conventional fixed rate at 6.625%, up 25 bp. Their 5-year adjustable rate is steady at 5.25%, while the 7-year adjustable rate rose 13 bp to 5.5% today. Affinity Plus offers a 15-year Conventional Fixed rate at 6.5% today, up 13 bp from a week ago and 38 bp over the past 30 days. The 30-year Conventional Fixed and Jumbo Fixed rates are both 7.0%, each up 13 bp from last week and 25 bp over 30 days. The VA 30-year Fixed rate is 7.625%, unchanged from a week ago but up 38 bp over 30 days. Adjustable-rate 5-year and 7-year ARMs hold steady at 5.25% and 5.5%.

Consumers offers a 15-year conventional fixed rate at 5.5% today. Their 30-year conventional fixed rate rose to 7.125%, up 25 bp from last week and 50 bp over the past month. Jumbo loans have a 30-year fixed rate at 7.125%, up 13 bp from last week and 50 bp from a month ago. The 5-year ARM is at 6.375%, increasing 25 bp from last week and 38 bp over 30 days. Northrop Grumman offers adjustable-rate mortgages with a 3-year ARM at 5.5%, a 5-year ARM at 5.625%, and a 7-year ARM at 6.125% as of today. These rates have stayed steady over the past week and month. If you prefer an ARM, these are the current options to consider.

Affinity offers a 15-year conventional fixed rate at 5.875%, up 25 bp from last week and 38 bp from a month ago. Their 30-year conventional fixed rate is 6.5%, also up 25 bp from last week and 38 bp from 30 days prior. For adjustable rates, the 3-year ARM is at 6.0%, rising 13 bp in the past week and 25 bp over 30 days. The 5-year ARM stands at 6.125%, with similar increases of 13 bp and 25 bp over the same periods. The 7-year ARM is 6.375%, up 13 bp week-over-week and 25 bp month-over-month. First Community offers a 30-year conventional fixed mortgage at 6.0% today. They also have a 30-year conventional fixed refinance rate at 6.5%.

Navy Federal Credit Union has a 15-year Conventional Fixed rate today at 6.0%, up 38 bp from a week ago. The 30-year Conventional Fixed rate is 6.625%, also up 38 bp over seven days and 50 bp higher than 30 days ago. The 30-year VA Fixed rate stands at 6.25%, increasing 38 bp in the past week. FHA 3-year ARM is at 5.625%, with a 25 bp rise in the last seven days. The 5-year ARM is 5.875%, up 25 bp this week.

Michigan State University shows a 15-year Conventional Fixed rate today at 6.25%, up 13 bp from last week and 25 bp from a month ago. The 30-year Conventional Fixed rate is 6.99%, rising 24 bp in the past week and 49 bp over 30 days. Jumbo 30-year Fixed loans match the 30-year Conventional at 6.99%, up 24 bp from last week and 37 bp from a month ago. The 15-year Adjustable Fixed rate is also 6.25%, with the same weekly and monthly increases as the 15-year Conventional. Connexus offers a 15-year conventional fixed rate at 6.125%, unchanged from last week, and a 30-year conventional fixed at 6.875%, up 13 bp in the past week. Adjustable rates include a 3-year ARM at 4.99%, a 5-year ARM at 5.375%, and a 7-year ARM at 5.625%, all steady since last week.

Empeople offers a 15-year conventional fixed rate today at 6.125%, up 38 bp from last week. The 30-year conventional fixed rate is 6.875%, also up 38 bp over seven days. FHA fixed rates are available for 3-, 5-, and 7-year terms, with the 3-year at 5.875% today, rising 50 bp in the last week. The 5-year FHA fixed is 6.125%, and the 7-year is 6.375%, both up 50 bp from last week.