The current refinance rates below are based on the following:
- The refinance of a single-family, primary residence
- That you pay 1% of your loan amount toward the loan origination charge
- A 60-day interest rate lock-in period
30-Year Fixed mortgage interest rate is published at 4.625% and APR is 4.799%. For 30-Year Fixed FHA loan’s interest rate is 4.5% with the APR of 5.71%. 15-Year Fixed interest rate is 3.625% with the APR of 3.921%. For 5-Year ARM, interest rate is only 3.000% and APR is 3.076%. 5-Year ARM FHA Mortgage interest rate is 2.75% with the APR of 3.152%.
For Larger Loan Amounts in eligible areas, Conforming and FHA loans, 30-Year Fixed rate is available at 4.750% with the APR of 4.881%.
30-Year Fixed FHA loan’s interest rate is quoted as 4.625% with the APR of 5.796%. 5-Year ARM interest rate is 3.250% and APR is 3.124%.
For Jumbo Loans, amounts that exceed conforming loan limits, 30-Year Fixed Mortgage interest rate is 4.625% and APR is 4.741%. 5-Year ARM interest rate for Jumbo loan is 3.375% and APR is 3.154%.
The above rates are as of 06/22/2013 05:00 PM Eastern from Wells Fargo Bank.
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.