As we move through 2025, mortgage rates have shown a positive trend. After starting the year just above 7%, average rates dropped to 6.13% before the September Federal Reserve meeting—the lowest in three years. While the current average rate of 6.30% is still higher than many would prefer, it’s a notable improvement from the 7% seen in mid-January.
Despite these rate improvements, affordability remains a challenge for many employees due to ongoing housing supply shortages and reduced mobility in the market.
How Chase Can Help State of North Dakota team members
Through the Chase Home Lending Benefit Program, you can access valuable resources and cost-saving opportunities to make homeownership more attainable:
- Exclusive Credit at Closing: Employees can enjoy a $1,000 credit at closing on a new home purchase or when refinancing an existing home loan
- Affordable Lending Options: Qualify for up to a $5,000 Homebuyer Grant, access affordable lending products with as little as a 3% down payment, reduced mortgage insurance, and lower credit score requirements
- Relationship-Based Pricing: Employees may be eligible for a rate discount based on new and existing deposit balances
- Chase Agent Express Realtor Network: Buy or sell a home through our approved realtor network and earn up to a $5,000 credit after each closing, based on the purchase price and location
- Closing Guarantee: Receive $5,000 cash if we fail to close within 21 days of a completed mortgage application
To explore your options and take advantage of these benefits, click here.