Today’s Mortgage Rates at Bank of America, US Bank, and SunTrust – April 14, 2016

On Thursday, mortgage finance giant Freddie Mac announced that interest rates on 30-year fixed-rate mortgages fell to the lowest level in almost three years after a drop in benchmark Treasury yields. The average rate for a 30-year mortgage dropped to 3.58%, down from 3.59% last week.

Mortgage Rates at Bank of America

The best rate at Bank of America today for the conventional 30-year fixed mortgage is 3.625% with an APR of 3.751%. Buyers can get a 20-year fixed home loan at 3.375% with a 3.596% APR. The popular 15-year fixed mortgage is quoted at 3.000% today with an APR of 3.201%.

Bank of America advertises the popular 5/1 adjustable rate mortgage with an interest rate of 2.750% for the first five years with an APR of 3.353% to start. A 7/1 ARM is quoted at 3.125% for the first seven years with a 3.427% APR to start. Bank of America advertises a 10/1 adjustable rate loan with an interest rate of 3.375% for ten years.

Refinance rates have gone down and are now about the same as purchase interest rates. A 30-year refi loan is quoted at 3.625% with a 3.774% APR. Homeowners can refinance into the popular 15-year refinance mortgage with an interest rate of 3.000% and a 3.249% APR. The 5/1 refi ARM is quoted at 2.750% to start with a 3.368% APR.

US Bank Mortgage Rates

US Bank advertises the conforming 30-year mortgage with an interest rate of 3.750% today and an APR of 3.821%. The shorter-term 15-year fixed home loan is quoted at 3.125% with a 3.249% APR. Buyers can lock into a 10-year conforming mortgage at 2.950% at US Bank with a 3.129% APR.

Home buyers can turn to an adjustable rate mortgage for greater flexibility. A 5-year ARM is quoted at 2.875% for the first five years with a starting APR of 3.187%. A 10-year adjustable rate loan is published at 3.375% for the first ten years.

A 30-year FHA loan is published with a 3.500% interest rate and an APR of 4.555%. The shorter-term 15-year FHA mortgage is quoted at 3.125% with an APR of 4.190%. A 30-year VA loan is available with a 3.500% interest rate on Thursday with a 3.833% APR. A 30-year jumbo loan can be secured at 3.750% at US Bank with an APR of 3.771%.

US Bank does not include discount points in quoted mortgage rates. You can reduce your interest rate by purchasing discount points at closing.

Thursday’s Mortgage Rates at SunTrust

SunTrust advertises the benchmark 30-year fixed-rate mortgage at 3.490% today, lower than the national average of 3.58%. A 15-year fixed loan is published at 2.800% with an APR of 3.104%. Buyers can lock into a 30-year FHA loan at 3.300% today with an APR of 4.458%. The 30-year VA mortgage is published at 3.300% today with a 3.574% APR. The 15-year VA mortgage is quoted at 2.875% with an APR of 3.299%. A 30-year jumbo loan is available with an interest rate as low as 3.700% and an APR of 3.8244%.

SunTrust offers adjustable rate mortgages for greater flexibility and the lowest possible rates. A 5/1 adjustable rate mortgage is published at 2.700% on Thursday with an APR of 3.381%. A 7/1 ARM is quoted with an interest rate of 2.990% for the first seven years with a 3.424% APR. Qualifying buyers can lock into a VA 5/1 ARM at 3.750% today with an APR of 3.356%.

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.