Standard 30 year fixed rate mortgage interest rates have been published at 4.375% at BMO Harris Bank yielding an APR of 4.673%. Shorter term 15 year loan deals at the bank are on the books at 3.375% today with an APR of 3.636%.
10 year FRM interest rates are on the books at 3.250% at the bank yielding an APR of 3.604%. 20 year FRM interest rates are available starting at 4.250% today and an APR of 4.508%.
The 3/1 ARMS start at 2.625% currently with an APR of 2.925%. As far as ARMs go, 5 year deals are being quoted at 2.875% at BMO Harris yielding an APR of 2.999% at the beginning of the loan. The 7/1 ARM deals are on the books at 3.375% currently with an APR of 3.253%. The 10 year ARM loans are published at 3.875% with an APR of 3.669%.
Market and Mortgages
Bank mortgage rates sometimes change with specific securities related to mortgages that are in concert with stock market movements. Securities lost ground in trading today to leave the DOW at 15,337.70.
Not surprisingly BMO Harris blindly followed the DJIA. Independent of mortgage rates, this particular bank’s stock moved higher to 62.60 up +0.45.