10 year loan deals are coming out at 2.875% and APR of 3.321% today. The best 20 year loan deals have been quoted at 4.000% yielding an APR of 4.244% today.
The 3 year Adjustable Rate Mortgages are coming out at 5.125% currently yielding an APR of 3.571%. In the ARM arena, 5 year interest rates at PHH are available starting at 2.790% yielding an APR of 2.930%. The 7 year ARM deals are listed at 3.090% today with an APR of 3.074% to start. 10/1 Adjustable Rate Mortgages are 3.530% today with a starting APR of 3.398%.
How about refinance mortgage rates?
Standard 30 year refinance FRM interest rates at PHH are published at 3.50% carrying an APR of 3.723% today. 15 year refi FRMs at the bank are available starting at 2.75% carrying an APR of 3.239% today. The 7/1 ARM interest rates are available starting at 2.625% and an APR of 3.141% .
From a market perspective
Refinance and mortgage rates often rise and fall with specific securities related to mortgages which go up and down with the markets. The stock market declined in today’s trading to leave the DJIA at 15,337.70 a decrease of -113.35.
Rates at PHH moved in the same direction as the securities markets. Separately, PHH’s stock price lowered to 21.89 down -0.11.