Best Mortgage Rates at JPMorgan Chase, US Bank, and Quicken Loans: Monday, February 1
While mortgage rates remain fairly flat as the week begins, they have been declining for more than one month despite the Federal Reserve raising interest rates in December. Continued market volatility and rising home prices are keeping mortgage rates fairly flat.
JPMorgan Chase Mortgage Rates
The best mortgage rate offered by Chase on Monday 2.875% for a 5/1 adjustable rate mortgage with a 3.269% APR and 0.875 point. A 7/1 ARM is published with the same 2.875% interest rate and a 3.223% APR with 1 point.
The benchmark 30-year fixed-rate mortgage is offered by Chase with a rate as low as 3.625% and a 3.686% APR with 0.750 point. This is one of the lowest rates offered for a 30-year fixed loan among major lenders and it beats the national average rate of 3.79%. The shorter-term 15-year fixed mortgage is published at 3.000% with a 3.162% APR and 1.125 points.
Chase purchase mortgage rates assume a conforming loan amount of $200,000 to $249,999 on a single-family home with a 20% down payment and excellent credit.
Homeowners can refinance into a 30-year fixed loan with Chase at 3.750% with a 3.853% APR. A 15-year refi loan is published at 3.000% with a 3.180% APR. Borrowers can lock into a 5/1 refinance ARM at 2.875% with a 3.289% APR.
US Bank Mortgage Rates
US Bank has updated its mortgage rates on Monday, February 1 with competitive low rates. The conventional 30-year fixed loan is advertised at 3.875% with a 3.946% APR. A 20-year fixed mortgage is available at a lower rate of 3.500% with a 3.597% APR. The popular 15-year conventional mortgage is published at 3.125% with an APR of 3.249%.
The popular 5/1 adjustable rate mortgage is offered by US Bank at an interest rate of 2.875% with a 3.187% APR. A more flexible 10/1 ARM is published at 3.500% with a 3.424% APR.
US Bank offers jumbo mortgages to qualified buyers. A 30-year fixed jumbo mortgage is advertised at 3.750% with an APR of 3.771%. A 30-year VA mortgage is published at 3.750% with a 4.088% APR. A 30-year FHA loan is offered by US Bank with an interest rate of 3.625% with a 5.179% APR.
Unlike most lenders, US Bank does not factor discount points into its published rates. Borrowers who want to buy points at closing can qualify for a lower rate.
Quicken Loans Mortgage Rates
Quicken Loans is now one of the largest mortgage lenders in the United States with mortgages offered in every state. The best mortgage rate at Quicken Loans for a standard 30-year fixed-rate loan is 3.75% with an APR of 3.979%. This is lower than the national average among 150 lenders of 3.79%. The shorter-term 15-year mortgage is published at 2.875% with a 3.308%. Quicken Loans advertises the best rate for a 5/1 ARM at 2.99% with a 3.48% APR.
Quicken Loans is a VA-approved lender. The best rate for a 30-year fixed VA loan is 3.375% with a 3.601% APR. A 5/1 VA adjustable rate mortgage is advertised at 2.75% with a 2.829% APR.
The best refi rate at Quicken Loans is 2.99% with a 3.48% APR for a 5/1 ARM. Borrowers can lock into a 30-year fixed refinance loan at 3.75% with a 3.979% APR.
Quicken Loan rates assume a $200,000 loan at a 75 loan-to-value ratio.
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.