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5/1 ARM Mortgage Rates in Illinois

Updated: June 22, 2018

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

4.221%

APR
5 Year ARM
3.875% Rate $940/mo
  • Updated June 22, 2018
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PRODUCTS RATES +/-
30 Year Fixed 4.84%
15 Year Fixed 3.88%
5/1 ARM 4.06%
Friday, June 22, 2018

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Mortgage rates for Illinois go down to 4.84%

Friday, June 22, 2018

Mortgage rates for Illinois on Lender411 for 30-year fixed-rate mortgages are at 4.84%. That dropped from 4.89% to 4.84%. The 15-year fixed rates are now at 3.88%. The 5/1 ARM mortgage for Illinois is now at 4.06%.

5/1 ARM Mortgage Rate Explained

5/1 ARM is an adjustable rate mortgage where the interest rate on the loan and hence the payment of the loan stays the same during the first 5 years. After that the rate will change based on its "margin" and "index" . Above you will find 5/1 ARM refinance rates for national and local lenders in Illinois. 

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