30 year FRMs are listed at 4.438% at TD Bank (NYSE:TD) yielding an APR of 4.551%. The best 30 year FHA loan interest rates can be had for 4.000% with a bit higher APR of 5.155%. Shorter term, popular 15 year loans can be had for 3.562% carrying an APR of 3.756%.
3/1 Adjustable Rate Mortgages are available starting at 2.688% with an APR of 2.938% to start. ARM loans in the 5 year category start at 3.062% at TD Bank with a starting APR of 3.043%. ARMs in the 7 year category are listed at 3.438% currently showing an APR of 3.240%. The 10/1 ARM deals start at 3.688% currently yielding an APR of 3.480% to start.
Refinance Mortgage Rates
30 year refinance loans at TD Bank have been offered at 4.688% with an APR of 4.803%. Shorter term, popular 15 year refinance FRM interest rates have been listed at 3.812% today with an APR of 4.008%. In the ARM arena, 5 year refi interest rates are listed at 3.312% at TD Bank. yielding an APR of 3.131%. The 7 year refi ARM loans have been published at 3.688% today with an APR of 3.359%.
Stock and Mortgage Update
Big bank mortgage rates are usually sensitive to mortgages packaged into financial instruments which usually move with the stock market. Markets went down by close of day today putting the DOW at 15,337.70 a decrease of -113.35.
As expected the bank moved in the same direction as the days market results. Related to the market discussion, this particular bank’s stock strengthened to 84.74 up +0.64%.