10 year fixed rate mortgages have been published at 3.125% with an APR of 3.311%. The best 20 year fixed rate mortgages at the bank have been quoted at 4.000% and APR of 4.102% today.
As far as ARMs go, 5 year interest rates are available starting at 3.125% at Commerce yielding an APR of 3.030% at present. 7 year ARM interest rates are being offered for 3.500% currently and APR of 3.234%.
Loan rates vacillate because of mortgage bonds and securities which follow stock market motions. Wall street fell today putting the DOW at 15,337.70 up -0.73%.
But the bank failed to follow the DJIA results today. Separately, Commerce’s stock price improved to 45.33 up +0.49%.