ARM loans in the 3 year category are available starting at 2.750 currently yielding an APR of 2.873. The 5 year ARMs have been quoted at 3.000 at Citizens and the APR is 2.943 on initial purchase. 7 year ARM interest rates have been quoted at 3.375 with an APR of 3.131 to start.
Stock and Mortgage Update
All the mortgage rates published are often steered by mortgages traded by banks in financial markets that are dependent on the stock market. Security markets lowered in trading today leaving the DJIA at 15,337.70 up -0.73%.
Today’s rates at Citizens blindly followed the financial markets. Closer to home, the banks stock price improved to 10.79 up +0.08.