Home Buyers Get a Break with Lower Mortgage Rates in 2019

Money, money, money.

A full percentage point. That’s how much mortgage rates have dropped since late last year.

A few months ago, percentage forecasts didn’t expect rates to drop as low as 4%, but they did. In Chicago, it has been dropping beneath 4%, seeing about 3.375% on April 11th, according to Bankrate. Will this help homebuyers? Absolutely.

The difference in a $200K 30-year mortgage is this: a mortgage payment for principal and interest go down by about $120/month if the rate is 4.1% rather than 5.1%.

So, if you haven’t caught it yet: now is the time to buy.

Take a look at our homes for sale in Chicago!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s