Today’s 30 and 15 year mortgage categories with SunTrust (NYSE: STI) showed no significant changes. The lender bases the rates on a “60 day lock in period” and assuming “the purchase of a single-family, owner-occupied” dwelling.
The 30 Year FRM (fixed rate mortgage) increased today to the rate of 4.375% with a corresponding APR value of 4.4850%.
The popular 15 Year Fixed Rate loan is on the books today at an increased rate of 3.300% with the corresponding APR value of 3.4829%.
The lender has made a few representative examples available on their website.
Borrowers are encouraged to begin the application process, by completing the online loan application.
The 30 Year Fixed Rate FHA/government backed loan is on the books today at the rate of 4.200% with a corresponding APR value of 5.8452%.
There 30 Year Fixed conventional Jumbo home loan rate increased today at a rate of 4.625%, with a corresponding APR value of 4.7247%.
The 5/1 ARM rate is on the books today at a rate of 2.800% today with an available APR value of 2.9516%.
The 7/1 adjustable rate loan is published at a rate of 3.250% and a corresponding APR figure of 3.1615%.
Additional rate and point quotes are available; please contact your loan officer for more information.
The rates are released as positive news hits the finance world; the rate of homeowners in the U.S falling behind on their mortgage payments is decreasing.
This comes as home values rise, interest rates lower and job gains become stable.
In the period from July-September of 2012, the percentage of mortgage holders at least two months behind in their payments was at 5.33%, however in this year, July-September quarter, that percentage dropped to 4.09%.
The rate has steadily been declining over the past five quarters.
Tim Martin, group vice-president of U.S Housing for TransUnion’s financial services business unit said, “The new mortgages are still performing very well, at very low delinquency rates,” he continued, “That’s why we’re expecting more improvement to come.”
According to TransUnion, the national mortgage delinquency rate will drop to just under 4 percent by year end.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.
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