ARM loans in the 3 year category are listed at 2.750 currently with an APR of 2.775 to start. The 5 year Adjustable Rate Mortgages are available starting at 3.000 at Citizens Bank with an APR of 2.861. 7/1 ARM interest rates are being offered for 3.375 today and APR of 3.063.
From the bank’s stock perspective
Mortgage rates often change as a result of loan packages traded by banks as securities that go up and down with the markets. Wall street went down by market close to leave the DJIA at 15,337.70 a decrease of -113.35.
Today the bank moved along with the action in the market. Now Citizens Bank’s stock price gained ground to 10.79 up +0.08.