The best 30 year loans have been listed at 4.480% at HSBC Bank (NYSE:HBC) yielding an APR of 4.551%. The best 30 year FHA loan interest rates can be had for 4.125% with a bit higher APR of 4.365%. The VA version of the 30 year loans are 4.125% with an APR of 4.371%.
The shorter term 15 year FRMs can be had for 3.530% at the bank today with an APR of 3.652%.
5/1 ARMs are coming out at 3.210% at HSBC and an APR of 2.975%. ARMs and their APRs change as interest rates move up and down. ARMs in the 7 year category can be had for 3.500% yielding an APR of 3.164%. The 10 year ARM interest rates are being offered for 3.875% currently yielding an APR of 3.510%.
From the finance side
All the mortgage rates sometimes change as a result of mortgage backed securities which are in concert with stock market movements. Security markets declined today to leave the DOW at 15,337.70 down -0.73%.
Interest rates at the bank moved along with the action in the market. Also in the market, the banks stock price fell to 55.44 down -0.06.