30 year fixed rate loans have been quoted at 4.500 at Citizens Bank and an APR of 4.528 today. Shorter term, popular 15 year loan interest rates have been listed at 3.375 at the bank and an APR of 3.423.
The 3 year ARM deals have been listed at 2.750 yielding an APR of 2.775. 5/1 ARM interest rates are published at 3.000 at Citizens Bank and an APR of 2.861. ARMs and their APRs change as interest rates move up and down. 7/1 ARM loans are being quoted at 3.375 with an APR of 3.063.
DOW and Stock Market Results
Loan interest rates move up and down sometimes because of securities backed by mortgages which track with the stock market. Wall street declined by the end of trading to leave the DOW at 15,337.70 a decrease of -113.35.
For today at least the bank moved in the same direction as the action in the market. Specifically, Citizens Bank’s own stock moved ahead to 10.79 up +0.08.