Mortgage rates moved higher in the middle of the week as investors sold off assets ahead of the Federal Reserves Minutes on Thursday. Rate increases were fairly mild with the best execution rate at 3.625% for the benchmark 30-year fixed mortgage.
Bank of America Mortgage Rates
Rates have moved higher at Bank of America this week with the standard 30-year mortgage quoted with an interest rate of 3.750% and a 3.858% APR. The 15-year fixed home loan is published today at 2.875% with an APR of 3.088%. Buyers can lock into a 5/1 ARM with a starting interest rate of 2.875%. The more flexible 7/1 adjustable rate loan is quoted at 3.125% for the first seven years.
Refinance rates are slightly higher than purchase rates at Bank of America. The best mortgage rate for a 30-year fixed refi loan is 3.875% with an APR of 3.999%. Homeowners can lock into the popular 15-year fixed refinance loan at 3.125% with an APR of 3.364%. The best rate for a refinance is 2.875% to start with a 5/1 refi ARM.
Mortgage Rates at US Bank
Mortgage rates are largely unchanged at US Bank compared to last week, although the rates for some popular loan products have moved higher. The best rate for a 30-year fixed conforming loan is 3.750% today with a 3.821% APR. Buyers can lock into a 15-year fixed mortgage at 3.125% with a 3.249% APR. An FHA mortgage is quoted with an interest rate of 3.500% and a 4.555% APR. US Bank advertises the 30-year VA loan with a 3.625% interest rate and an APR of 3.960%. The best rate for a 30-year fixed jumbo loan is 3.750% — the same rate as a conforming mortgage.
US Bank also offers adjustable rate mortgages for flexibility and the lowest possible payment. A 5-year ARM is quoted with a 2.750% interest rate while the 3-year and 10-year adjustable rate mortgages are available with a starting interest rate of 3.125%.
US Bank does not include discount points in its mortgage quotes, which means you may secure a lower interest rate by purchasing discount points at closing.
Today’s Quicken Loans Mortgage Rates
Quicken Loans advertises the benchmark 30-year fixed mortgage at 3.625% today with a 3.873% APR, unchanged from last week. Home buyers can lock into a shorter-term 15-year fixed home loan with a 2.875% interest rate and an APR of 3.27%. The popular 5/1 ARM is quoted with a starting interest rate of 2.99%. Qualified buyers can get a 30-year fixed VA mortgage at Quicken Loans with an interest rate of 3.25% and a 3.494% APR. The 5/1 VA ARM is quoted with a starting rate of 2.75%.
The interest rates mentioned within the article are subjected to change without any guarantee and are up-to-date at the time of publishing of the article. For the latest interest rates, make sure to check the current values.