The best 30 year fixed rate mortgages at TD Bank (NYSE:TD) are on the books at 3.375% carrying an APR of 3.710% today. The shorter term 15 year FRM interest rates start at 2.625% at the bank today with an APR of 3.140%.
5/1 ARMs at TD Bank are being offered for 2.625% with an APR of 3.504%. The 7 year ARM deals are available starting at 2.750% currently with an APR of 3.465%. 10 year ARM interest rates have been published at 2.875% today with an APR of 3.434%.
Stock and Mortgage Update
Interest rates banks charge move up and down often because of securities backed by mortgages that partially track with the stock market. Stocks lowered by the end of trading to leave the DJIA at 17897.32.
Mortgage rates at the bank moved along with the stock traders. Also in the market, TD Bank’s own stock weakened to 43.24 down -0.14.
BMO Harris Bank
The best 30 year FRM interest rates at BMO Harris Bank start at 3.625% carrying an APR of 3.728%. The short term 15 year fixed rate loan interest rates are being quoted at 2.875% and an APR of 3.129% today.
10 year fixed rate mortgage interest rates are published at 2.750% and APR of 3.119% today. 20 year FRMs are being quoted at 3.375% and an APR of 3.676%.
ARMs in the 3 year category start at 2.875% currently with an APR of 3.461%. The 5/1 ARM loans at BMO Harris have been quoted at 2.875% carrying an APR of 3.382% to start. The 7 year Adjustable Rate Mortgages can be had for 3.125% with a starting APR of 3.427%. 10/1 Adjustable Rate Mortgages are being offered for 3.500% carrying an APR of 3.602%.
Stock and Mortgage Performance
Published rates are often driven by MBS’s traded in security markets which go in the same direction as the stock market. Stock markets fell in today’s trading with the DJIA at 17897.32.
For today at least the bank tracked with the DJIA performance. Closer to home, the stock price of BMO Harris increased to 63.27 up +0.58.