30 year FRMs at Commerce Bank can be had for 4.375% yielding an APR of 4.450% today. Shorter term, popular 15 year loan interest rates at the bank are being quoted at 3.375% yielding an APR of 3.504% today.
10 year loan interest rates are on the books at 3.125% at the bank and APR of 3.311%. 20 year fixed rate mortgage interest rates are being offered for 4.125% today and an APR of 4.227%.
As far as ARMs go, 5 year deals at Commerce have been published at 3.125% with an APR of 3.030% to start. The 7/1 Adjustable Rate Mortgage interest rates start at 3.500% currently and an APR of 3.234%.
Stock Market Movement Today
Loan interest rates often change because of MBS’s traded in security markets which move with the stock market. Security markets dropped by the end of trading today to leave the DOW at 15,337.70 up -0.73%.
Mortgages at the bank moved in the same direction as the financial markets. More specifically, this particular bank’s stock price rose to 45.33 up +0.22.