10 year loans have been quoted at 3.125% at the bank and APR of 3.311% today. The best 20 year fixed rate loans are being offered for 4.125% at the bank yielding an APR of 4.227% today.
The 5/1 ARM loans have been quoted at 3.125% at Commerce with a starting APR of 3.030%. 7/1 ARMs are being quoted at 3.500% currently with an APR of 3.234%.
Stock Market Movement Today
Big bank mortgage rates often rise and fall with MBS prices which partially track with the stock market. Overall markets waned today with the DJIA at 15,337.70.
Today’s rates at Commerce did not defy the markets. On the topic of stocks, this particular bank’s stock price moved ahead to 45.33 up +0.22.