Today's Mortgage Rates

Here are today's mortgage interest rates from Mortgage News Daily.

Updated February 23, 2024

  Rate Change
30YR FIXED 7.08% -.08%
15YR FIXED
6.56% -.02%
30YR JUMBO 7.40% -.02%
30YR FHA 6.64% -.04%
30YR VA 6.67% -.03%

The rate index is published daily (weekdays) around 4PM EST. Rates as of 2/23/24. These products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary.

Specific rate quotes are based on a borrower’s qualifying criteria, credit score, property type, etc.

Home loan rates are at historic lows!  In other words, there has never been a better time to finance a home.  Above all, the impact your interest rate makes on your monthly mortgage cost is significant.  So lock in a low rate now while you can!

Mortgage Advice

If you’re looking for a home in the Chicagoland area, consider contacting a lender.  Getting your financing lined up early will help things go smoothly.  For instance, it will show home sellers how serious you are.  In addition, here are some advantages from thebalance.com on why you should get a mortgage pre-approval.

  • Prove your credibility to home sellers
  • Save time by looking at the right homes
  • Gain confidence and avoid disillusionment
  • Increase your bargaining and similarly negotiating power
  • After that, enjoy a faster closing period

One more tip we can offer, go with a local lender.  Firstly, slick big name or online lenders don’t save you that much.  If that were the case, they wouldn’t be able to afford all those commercials. Secondly, you want a local lender that you can reach out to with questions.  In conclusion, sitting at a closing table trying to get a hold of some online lender can be a nightmare – we’ve seen it.