St. Charles Mortgage Rates Drop September 2 2012

After 4 weeks of rising costs, mortgage rates in St. Charles, IL have finally dropped. A home buyer with a great credit profile can now get a mortgage for as low as 3.47%.

One year ago, the 30-year fixed rate mortgage rate averaged 4.22%. Today, the national average is 3.59%. The difference gives a $36 monthly savings per $100,000 borrowed.  On a $250,000 mortgage, that’s $1,080 in savings per year.

If watched mortgage rates rise through August and worried that you may have missed the best deals, consider this week your second chance. It’s the biggest one-week drop in rates in more than 3 months.

We expect a new round of buyers to enter the market this fall. Home buyers are looking for the best possible home value and low mortgage rates. Home prices in St. Charles start to drop a little bit in the fall, so if purchasing a home makes sense for you right now, it really has never been a better time to buy.

If you’re thinking of buying a home you need to get pre-approved so you know how much home you can comfortably afford.  A pre-approval gives you leverage with a seller who recognizes you will be approved for a loan. To get pre-approved or to discuss whether you will qualify for a mortgage, please call a loan officer with a solid track record of client service. Two of my favorites are:

Dan Cowart Baird&Warner Financial Service (630)677-5353 See Website 

Brian Dempsey Bank of America (630)338-4104 See Website

Leslie Ebersole, Real Estate Broker
962 S Randall Rd St. CharlesIL60174 USA 
 • 630-945-7935

Related posts:

  1. Mortgage Rates in Geneva Drop For The First Time In 4 Weeks
  2. Mortgage Rates Down 1 Percent In One Year
  3. Forecast Update: Mortgage Rates, Mortgage Applications, Jobless Claims, International Rules for Banks
About Leslie Ebersole

I am a Realtor with Baird&Warner Real Estate in St. Charles, IL. I am deeply committed to helping sellers and buyers navigate and succeed in this challenging real estate market. I list and sell homes in the western suburbs of Chicago, including St. Charles, Geneva, Batavia, Elburn, South Elgin and Wayne.

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