Mortgage rates dropped modestly on Thursday after reaching near three-year lows on Tuesday. Rates didn’t increase much, but they returned to the average rates quoted on Friday and Monday. The most prevalent rate for the conventional 30-year fixed mortgage today is 3.625% with a rate of 2.875% to 3.00% for 15-year fixed loans. Low rates have pushed refinance applications higher this week after six weeks of declining refi volume.
Bank of America Mortgage Rates
The best rate for a conforming 30-year fixed mortgage at Bank of America today is 3.625% with a 3.760% APR. Bank of America advertises the 20-year fixed loan with a 3.500% interest rate and a 3.637% APR. The popular 15-year fixed mortgage is quoted with a 3.125% interest rate and an APR of 3.287%.
Buyers who want a more flexible home loan can turn to an adjustable rate loan at Bank of America. The 5/1 ARM is published today with an interest rate of 2.750% to start and a 3.330% APR. The 7/1 adjustable rate loan is quoted at 3.000% to start with a 3.369% APR. The 10/1 ARM has an interest rate of 3.250% for the first 10 years with a 3.451% APR to start.
Refi rates have moved slightly lower at Bank of America this month. A 30-year fixed refi loan is published with a 3.625% interest rate and a 3.778% APR. Homeowners can refinance into a 15-year fixed refi mortgage at 3.000% with an APR of 3.226%. The 5/1 adjustable rate refi loan is published with a 2.750% interest rate to start and an APR of 3.348%. A 7/1 refinance ARM is quoted at 3.000% to start with a 3.389% APR.
Today’s Rates at Capital One
Capital One offers very competitive interest rates to well-qualified borrowers. A 30-year fixed mortgage at Capital One is quoted with a 3.500% interest rate today and a 3.581% APR. The shorter-term 15-year fixed home loan is published at 2.875% with an APR of 2.983%. Buyers can lock into a 5/1 ARM at 2.750% to start with an APR of 3.288%. The 7/1 ARM is published with an interest rate of 3.000% for the first seven years and a 3.328% APR to start.
Capital One also offers jumbo loans. A 30-year fixed jumbo mortgage is published at 3.375% today with an APR of 3.406%. The popular 5/1 jumbo ARM is quoted at 2.500% for the first five years with an APR of 3.173% to start.
Thursday Mortgage Rates at Quicken Loans
Quicken Loans is one of the country’s largest mortgage lenders. A conventional 30-year fixed mortgage at Quicken Loans is published with a 3.625% interest rate today and a 3.852% APR. Buyers can lock into a 15-year fixed loan at 2.750% and an APR of 3.18%. The conforming 5/1 adjustable rate mortgage is offered at 2.875% for the first five years with a starting APR of 3.531%. Quicken Loans quotes the 30-year fixed VA mortgage at 3.25% on Thursday with an APR of 3.443%. A VA 5/1 ARM is published with a 2.75% interest rate to start and an APR of 2.863%.
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.