Standard 30 year loan deals have been quoted at 4.250% at Commerce Bank and APR of 4.325% today. The shorter term, popular 15 year fixed rate loan interest rates at the bank are coming out at 3.375% yielding an APR of 3.504% today.
10 year loan deals at the bank are on the books at 3.125% today carrying an APR of 3.311%. 20 year FRM interest rates at the bank start at 4.000% with an APR of 4.102% today.
The 5 year ARM interest rates are 3.125% at Commerce yielding an APR of 3.030% at the beginning of the loan. ARMs in the 7 year category are listed at 3.500% today with an APR of 3.234%.
DOW and Stock Market Results
The rates published for mortgages usually vacillate with mortgage related bond prices which go in the same direction as the stock market. Security markets lowered by close of day putting the DJAI at 15,337.70.
Today Commerce blindly followed the DJIA direction. Related to the market discussion, the stock price of Commerce strengthened to 45.33 up +0.49%.