The 30 year fixed rate mortgage was unveiled today by Chase Bank for those who are looking to purchase a home; the said rate is announced to be available at the bank at an interest rate of 4.500% with an APR of 4.618%. Closely following the mentioned rate is the 15 year FRM which can be had at 3.625% with an APR of 3.734%. Adjustable rates are also made available today at the bank, starting with the 7 year adjustable rate mortgage that can be had an interest rate of 4.627% with an APR of 3.810%, and is concluded by the announcement of the availability of the 5 year ARM which is listed to be at 3.500% with an APR of 3.199%. Contrary to the aforementioned rates, refinance deals are also published by the bank today, the 30 year refinance is quoted to be at 4.750% with an APR of 4.815%, followed by the bank’s 15 year refinance at 3.625% with an APR of 3.734%. Shorter term refinance deals are also on the list today, the 7 year refinance is at 4.750% with an APR of 3.883%, and the 5 year refinance is being quoted at 3.875% with an APR of 3.333%.
Moving on to US Bank Corp’s quotes, which starts with the 30 year FRM which is at 4.500% with an APR of 4.684%, followed by the 20 year FRM at 4.375% with an APR of 4.655%. Next is the 15 year FRM quoted at 3.375% with an APR of 3.760%. The much shorter term of 10 year FRM is on the books at 3.875% with an APR of 3.829%. A still much shorter term of 5 year ARM is at 2.500% with an APR of 3.206%.
Freddie Mac on the other hand has released four terms today, these are the 30 year FRM at 4.40%, followed by the 15 year FRM at 3.44%, and then the 5 year ARM at 3.23% and the 1year ARM at 2.67%.
Freddie Mac’s 4.40% offer for the 30 year FRM is lower than Chase Bank’s and US Bank Corp’s 4.500% today.
Disclaimer: The rates quoted above are basically the average advertised by a particular lending company. No guarantee of taken from the lender’ aspect whether the borrower will qualify for the mortgage rates mentioned in the article. The lenders dole out interest depending upon various facets, some of which may be unique to the borrower.
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