10 year FRMs are 2.960% at the bank carrying an APR of 3.418% today. The best 20 year loan interest rates are published at 4.090% at the bank with an APR of 4.343% today.
ARM interest rates in the 3 year category have been published at 5.250% today yielding an APR of 3.626%. 5 year ARM loans have been offered at 2.810% at PHH Mortgage with a starting APR of 2.941% which will change as interest rates adjust. 7 year ARMs are being offered for 3.160% currently and APR of 3.111%. 10/1 ARM interest rates are being offered for 3.560% today yielding an APR of 3.422%.
Standard 30 year refinance FRMs have been offered at 3.50% at PHH Mortgage with an APR of 3.723% . The short term, popular 15 year refinance fixed rate loan interest rates are being offered for 2.75% at the bank today carrying an APR of 3.239% . ARMs in the 7 year refinance category have been quoted at 2.625% carrying an APR of 3.141% .
How are the mortgage rates connected to the stock market?
Refinance and mortgage rates move with loan packages traded by banks as securities which usually move with the stock market. Markets lost ground by market close putting the DJAI at 15,337.70 down -0.73%.
Rates at PHH Mortgage did not take the lead of the market direction today. More specifically, PHH Mortgage’s stock price lowered to 21.89 down -0.11.