30 year loan deals are available starting at 3.750% at PHH Mortgage today yielding an APR of 3.801%. The short term 15 year loan interest rates start at 3.060% today with an APR of 3.250%.
10 year fixed rate loan interest rates can be had for 2.980% and APR of 3.256%. 20 year fixed rate mortgage interest rates stand at 3.590% yielding an APR of 3.742% today.
The 5/1 ARM interest rates have been offered at 3.125% at PHH Mortgage with an APR of 3.474%. 7 year ARMs are published at 3.250% currently and the APR is 3.500%. 10 year ARM loans are being quoted at 3.500% today showing an APR of 3.608%.
Mortgage Rates for Refinancing Your Home
Standard 30 year refinance loan interest rates are on the books at 3.50% at PHH Mortgage yielding an APR of 3.723%. The shorter term, popular 15 year refi loan deals are listed at 2.75% at the bank today yielding an APR of 3.239%. ARM loans in the 7 year refi category are being offered for 2.625% currently with a starting APR of 3.141%.
Related Market News
Rates banks charge usually go up and down because of mortgages traded by banks in financial markets which roughly follow motions in the stock market. Security markets moved ahead in today’s trading to leave the DOW at 17633.11 up +0.56.
Mortgage rates at PHH Mortgage did not move along with the market direction. Specifically, the banks stock price gained ground to 12.15 up +2.58%.
Bank of America
The benchmark 30 year fixed rate loans start at 3.750% at Bank of America (NYSE:BAC) carrying an APR of 3.860% today. As far as ARMs go, 5 year deals at Bank of America are available starting at 2.875% and the APR is 3.396% on initial purchase.
Today’s Refinance Mortgage Rates
The best 30 year refinance fixed rate loan interest rates have been listed at 3.875% at Bank of America today with an APR of 3.991%. 5 year refi ARMs are listed at 3.000% at Bank of America. with an APR of 3.430%.
Stock and Mortgage Update
Quotations of mortgage rates move up and down often because of mortgage bonds and security prices which partially track with the stock market. Securities rose by the end of trading leaving the DJIA at 17633.11 up +0.56.
Rates at Bank of America decided not to match Wall Street’s direction today. Related to the market discussion, the banks stock price dropped to 13.40 down -0.21.