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3/1 ARM Mortgage Rates in Illinois

Updated: October 18, 2019

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Displaying rates for Mortgage Refinance in IL for $200,000

5.156%

APR
3 Year ARM
4.250% Rate $984/mo
  • Updated October 18, 2019
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PRODUCTS RATES +/-
30 Year Fixed 3.72%
15 Year Fixed 3.40%
5/1 ARM 4.22%
Friday, October 18, 2019

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Mortgage rates for Illinois go up to 3.72%

Friday, October 18, 2019

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 3.72%. That increased from 3.70% to 3.72%. The 15-year fixed rates are now at 3.40%. The 5/1 ARM mortgage for Illinois is now at 4.22%.

3/1 ARM Mortgage Rate Explained

3/1 ARM is an adjustable rate mortgage where the monthly payment (principal and interest) of the loan does not change during 3 years. After that the rate will change based on its "margin" and "index" . Above you will find 3/1 ARM refinance rates for national and local lenders in Illinois. 

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