10 year FRM interest rates have been quoted at 3.125% today and an APR of 3.311%. The best 20 year fixed rate loan interest rates at the bank have been published at 3.875% yielding an APR of 3.977%.
5/1 ARM loans are published at 3.125% at Commerce and the APR is 3.030% on initial purchase. The 7/1 Adjustable Rate Mortgages are coming out at 3.500% today with an APR of 3.234%.
Related Financial News
Published rates usually move with MBS’s (mortgage backed securities) prices that are dependent on the stock market. Financial markets fell by market close today with the DJIA at 15,337.70 a decrease of -113.35.
Interest rates at the bank blindly followed the markets. Separately, the stock price of Commerce gained ground to 45.33 up +0.49%.