Chase Bank released their offer for the 30 year fixed rate mortgage which is on the books at 4.500% with an APR of 4.575%. The 15 year FRM is also available and is at 3.625% with an APR of 3.808%. For the more flexible terms, the 7 year adjustable rate is made available today and can be had at the bank for 4.250% with an APR of 3.360%. The much shorter term of 5 year ARM is offered today at 4.000% with an APR of 3.383%. For the refinance rates from the bank, the 30 year refinance is available today at 4.500% with an APR of 4.607%. The shorter term 15 year refinance is at 3.395% with an APR of 3.557%. For the much shorter term of 5 year refinance, it is available for 3.625% with an APR of 3.248%.
Next in the list is the US Bank Corp which made their offer for the 30 year FRM available today at 4.375% with an APR of 4.590%. FHA also released theirs; it can be had at the bank for 4.375% with an APR of 4.579%. For the shorter term of 15 year FRM, it can be had at 3.375% with an APR of 3.741%. FHA has theirs at 3.750% with an APR of 4.312%. For the much shorter term of 10 year FRM, it is available at 3.125% with an APR of 3.704%. The last is the adjustable term of 5 year ARM; it can be availed at 2.375% with an APR of 3.163%.
Last is the quote of Freddie Mac which starts from the 30 year FRM at 4.31%, followed by the 15 year FRM at 3.39%, with the 5 year ARM at the end at 3.16%
Today, Freddie Mac still holds the lowest rate for the 30 year FRM at 4.31% compared to those of Chase bank’s and US Bank Corp’s.
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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