Illinois Mortgage and Refinance Rates

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Current Illinois Mortgage Rates

Average market rates for May 24, 2024 in Illinois are 7.09% for 30-year fixed purchase and 7.17% for 30-year fixed refinance

ProductRateAPR
30-year Fixed Purchase7.09%7.11%
30-year Fixed Refinance7.17%7.20%
Rates based on market averages as of May 24, 2024.
ProductRateAPR
30-year Fixed Purchase7.09%7.11%
30-year Fixed Refinance7.17%7.20%
Rates based on market averages as of May 24, 2024.

Illinois Purchase Rates

ProductRateAPR
15-year Fixed Purchase6.28%6.33%
15-year Fixed Jumbo Purchase6.69%6.71%
30-year Fixed Purchase7.09%7.11%
30-year Fixed Jumbo Purchase7.31%7.34%
Rates based on market averages as of May 24, 2024.

Illinois Refinance Rates

ProductRateAPR
15-year Fixed Refinance6.29%6.33%
15-year Fixed Jumbo Refinance6.70%6.72%
30-year Fixed Refinance7.17%7.20%
30-year Fixed Jumbo Refinance7.28%7.31%
Rates based on market averages as of May 24, 2024.

Illinois ARM Rates

ProductRateAPR
5/6 Arm (purchase)7.48%7.51%
5/6 Arm (refinance)7.58%7.62%
5/6 Jumbo Arm (purchase)6.93%6.94%
5/6 Jumbo Arm (refinance)6.99%6.99%
Rates based on market averages as of May 24, 2024.

How we source rates and rate trends

Most Common Mortgage Types in Illinois

  • Conventional: 109,464 loans
  • USDA: 1,505 loans
  • FHA: 24,998 loans
  • VA: 7,741 loans

Top Purchase Lenders in Illinois by Volume

  • Guaranteed Rate, Inc.: 11,822 loans
  • JPMorgan Chase Bank: 5,277 loans
  • Crosscountry Mortgage, LLC: 4,340 loans
  • Rocket Mortgage, LLC: 4,272 loans
  • Fairway Independent Mortgage Corporation: 3,964 loans
  • Loandepot.com, LLC: 3,847 loans
  • Caliber Home Loans, Inc.: 3,039 loans
  • Neighborhood Loans, Inc.: 2,643 loans
  • The Huntington National Bank: 2,606 loans
  • Mortgage Research Center, LLC: 2,464 loans

Top Refinance Lenders in Illinois by Volume

  • JPMorgan Chase Bank: 2,035 loans
  • Fifth Third Bank: 1,479 loans
  • U.S. Bank: 1,473 loans
  • PNC Bank: 1,456 loans
  • Rocket Mortgage, LLC: 1,418 loans
  • Nationstar Mortgage LLC: 888 loans
  • Guaranteed Rate, Inc.: 871 loans
  • Wells Fargo Bank: 818 loans
  • The Huntington National Bank: 635 loans
  • Bank Of America: 586 loans

Top Cash-Out Refinance Lenders in Illinois by Volume

  • Rocket Mortgage, LLC: 4,660 loans
  • JPMorgan Chase Bank: 1,611 loans
  • Nationstar Mortgage LLC: 1,429 loans
  • Loandepot.com, LLC: 1,203 loans
  • Bmo Harris Bank: 1,011 loans
  • Wells Fargo Bank: 978 loans
  • Guaranteed Rate, Inc.: 935 loans
  • The Huntington National Bank: 777 loans
  • Freedom Mortgage Corporation: 630 loans
  • Amerisave Mortgage Corporation: 489 loans

How we source lender data

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