Mortage Rates Below 4% For Chicago Home Buyers

More good news about mortgage rates and monthly housing affordability for Chicago home buyers.  When we bought our home in 1987, the 30 year fixed was 10%.  Within two weeks time, there was a “correction” between the dollar and the yen, and the 30 year fixed rate went up almost 2 percentage points.  We wound up with a 5/5 ARM at 10%.  Today, our 30 year fixed rates for new Chicago home purchases can be under 4% with 25% down!  For a clearer picture of what this means for you, see the following article:

http://www.marketwatch.com/story/mortgage-rates-plunge-beyond-expectations-2011-10-05?siteid=nwhpf

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