Illinois Mortgage Rate Trends
Track current and weekly average mortgage rates across all loan products in Illinois, view interactive rate trend charts, and compare IL borrowing costs against the national average.
Current Illinois Mortgage Rate Trends
Mortgage rates in Illinois fell by -0.008 this week, bringing the current 30-year fixed average down to 6.519%. Borrowers in IL are benefiting from improved conditions compared to last week's average of 6.527%.
At 6.519%, Illinois's 30-year fixed rate sits +0.195 above the current national average of 6.324%. This above-average spread may reflect local market conditions, lender competition levels, or regional risk factors specific to IL.
The 15-year fixed rate in Illinois currently averages 5.920%, compared to 5.926% last week. Homeowners considering a refinance into a shorter term should weigh this rate against their current loan conditions and remaining balance. Shorter-term loans typically carry lower rates but require higher monthly payments.
The Illinois mortgage rate averages displayed on this page are calculated from 760 verified mortgage rate quotes collected across 134 lenders actively operating in Illinois. Our proprietary systems collect and verify mortgage rates daily — tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates.
Unlike rate comparison sites that show only a handful of lenders, MonitorBankRates maintains a continuously updated mortgage rate database spanning community banks, regional lenders, national institutions, and credit unions across Illinois. This scale allows us to calculate averages that reflect the full lending landscape — not just the most aggressive advertisers — giving borrowers, journalists, and real estate professionals a more accurate benchmark for what rates actually look like in IL.
Data reflects average rates offered by licensed institutions operating in IL. Last Updated: April 16, 2026
Illinois Mortgage Rate Trends
Daily average rates across all loan products. Hover over the chart to see exact rates for each day.
Illinois mortgage rate averages compiled from 760 current mortgage rates across 134 lenders operating in IL — updated daily.
As of Apr 16, 2026 • Data provided by MonitorBankRates.com
For Media, Researchers & Real Estate Professionals
Journalists covering Illinois housing markets, real estate professionals advising clients on timing, and academic researchers studying regional lending patterns are welcome to cite and reference this data. All historical IL rate data is free to use for editorial, research, and educational purposes.
Please attribute MonitorBankRates.com when referencing our figures in any publication, article, or report — and optionally link to https://monitorbankrates.com/mortgage-loan-rates/illinois/trends. For custom data pulls, contact us here.
