The best 30 year FRMs are being offered for 4.375% at Commerce Bank yielding an APR of 4.450% today. Shorter term, popular 15 year fixed rate mortgages are listed at 3.375% at the bank today and an APR of 3.504%.
10 year loan interest rates are coming out at 3.125% and APR of 3.311%. The best 20 year loan deals at the bank are listed at 4.125% carrying an APR of 4.227% today.
The 5 year ARMs are being quoted at 3.125% at Commerce and an APR of 3.030%. ARM loans in the 7 year category can be had for 3.500% currently and the APR is 3.234%.
Financial Market News
All the mortgage rates published rise and fall with MBS’s (mortgage backed securities) which follow stock market motions. Stocks lost ground by market close putting the DJAI at 15,337.70.
Mortgages at the bank did not defy the days closing results. Related to the market discussion, Commerce’s own stock price increased to 45.33 up +0.22.