ARM interest rates in the 5 year category are 2.99% at Quicken Loans yielding an APR of 3.058% to start.
Best Available Refinance Mortgage Rates
30 year refinance fixed rate loans at Quicken Loans are being quoted at 4.375% with an APR of 4.599% today. The shorter term, popular 15 year refinance FRMs are published at 3.375% yielding an APR of 3.758% today. The 5/1 ARMS at Quicken are being quoted at 2.99%. yielding an APR of 3.058% .
Market Impact on Mortgage Rates
Rates for mortgage loans move up and down sometimes because of market traded MBSs which follow stock market motions. Security markets fell by close today leaving the DJIA at 15,337.70 a decrease of -113.35.
Rates at the bank did not move in the same direction as the DJIA direction today.