Mortgage rates edged lower once again on Friday after the latest jobs report showed lower-than-expected job growth for April. Many lenders are now offering the lowest rates in three years. On Friday, the best execution rate for the benchmark 30-year fixed mortgage is 3.625%.
Bank of America’s Mortgage Rates
The best rate for the standard 30-year fixed loan at Bank of America today is 3.625% — which is the day’s best execution rate — with a 3.733% APR. Bank of America advertises the 15-year fixed mortgage at 2.875% with an APR of 3.570%. Home buyers can lock into a 5/1 adjustable rate loan with a starting interest rate of 2.750% and a 3.329% APR. The 7/1 ARM is quoted with a 3.000% starting interest rate.
Refinance rates at Bank of America are relatively unchanged. The best rate for a 30-year fixed refi mortgage is 3.750% today with a 3.885% APR. A 15-year fixed refinance loan is quoted with a 3.000% interest rate and a 3.251% APR. Homeowners can refinance into a 5/1 refi ARM at 2.625% to start for the best possible starting rate.
Quicken Loans Mortgage Rates
Quicken Loans has updated mortgage rates for Friday, May 6. The best interest rate for the standard 30-year fixed mortgage is 3.625% with an APR of 3.852%. Homeowners can lock into a 15-year fixed home loan at 2.75% on Friday with a 3.18% APR. The popular 5-year adjustable rate mortgage is quoted at 2.875% for the first five years with a starting APR of 3.531%. Quicken Loans advertises the 30-year VA mortgage with a 3.25% interest rate and a 3.433% APR.
Today’s Capital One Mortgage Interest Rates
The best rate at Capital One for the benchmark 30-year fixed mortgage is 3.500% with a 3.561% APR. Capital One advertises the 15-year fixed home loan with a 2.750% interest rate and an APR of 2.876%. A 5/1 adjustable rate loan is published with a starting interest rate of 2.750% for the first five years with a 3.288% APR.
Buyers interested in a jumbo mortgage can secure a 30-year fixed jumbo loan at 3.250% with a 3.271%, lower than today’s best execution rate for a conforming mortgage. A 15-year fixed jumbo mortgage is advertised at 2.875% with a 2.912% APR.
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.