The 3/1 ARM deals start at 2.630% today and the APR is 3ARMPA@. 5 year ARMs at TD have been published at 3.101% with a starting APR of 5ARMPA@. 7/1 Adjustable Rate Mortgages are available starting at 3.449% and an APR of 7ARMPA@. The 10/1 Adjustable Rate Mortgage interest rates have been published at 3.786% today with an APR of 10ARMPA@.
Now on to Refinance Mortgage Rates
The benchmark 30 year refinance loan deals start at 4.744% at TD today with an APR of 4.844%. The shorter term, popular 15 year refi loan interest rates can be had for 3.888% today with an APR of 4.058%. The 5 year refinance ARM deals at TD start at 10 Year Adjustable Rate. yielding an APR of 5ARMRA@. The 7/1 ARM interest rates are published at 3.512% today and APR of 7ARMRA@.
Big bank interest rates are usually impacted by mortgage related bond prices which partially track with the stock market.
Market Impact on Mortgage Rates
The stock market fell in trading today to leave the DOW at 15,337.70 a decrease of -113.35.
As expected TD moved in the same direction as the days DJIA results. Also in the market, the stock price of TD moved ahead to 84.74 up +0.54.