The average 30-year fixed mortgage rate on Tuesday, February 23 is 3.47%, up two basis points from last week. Despite some market volatility, rates have remained fairly flat for the last week and remain near three-week lows.
Tuesday’s Mortgage Rates at Bank of America
The best rate at Bank of America for the benchmark conventional 30-year fixed mortgage is 3.750% with an APR of 3.874%. The shorter-term 15-year fixed loan is quoted with a 3.000% interest rate and a 3.211% APR. Buyers can also lock into a 20-year fixed mortgage today at 3.625% with a 3.761% APR.
The best rate for the popular 5/1 adjustable rate mortgage at Bank of America is 3.000% on Tuesday with a 3.337% APR. A 7/1 ARM is quoted at 3.375% with an APR of 3.477%. For greater flexibility, borrowers can lock into a 10/1 ARM with an interest rate of 3.375% to start and a 3.489% APR.
Homeowners who want to refinance can qualify for a 30-year fixed refi loan at 4.000% with a 4.115% APR. The popular 15-year fixed refinance mortgage is quoted at 3.125% with a 3.23% APR. Buyers who want the lowest possible mortgage rate can turn to a 5/1 refi ARM at 2.875% to start.
US Bank Mortgage Rates
US Bank has updated its mortgage rates for Tuesday. Unlike most lenders, US Bank does not include discount points in published mortgage rates. You can get a lower interest rate than advertised by purchasing points at closing.
The conventional 30-year fixed mortgage at US Bank is quoted at 3.750% today with a 3.821% APR. Buyers can lock into a 15-year fixed loan at 3.125% with an APR of 3.249%. The shorter-term 10-year fixed conforming loan is advertised with a 3.000% interest rate and an APR of 3.179%. A 30-year fixed FHA loan is quoted at 3.625% today with an APR of 5.179%. US Bank advertises a 30-year fixed VA loan at 3.625% with a 3.960% APR. Buyers who want a jumbo mortgage can lock in at 3.875% today with a 3.896% APR for a 30-year fixed jumbo loan.
Buyers who want greater flexibility can turn to an adjustable rate mortgage at US Bank. The best rate is for a 5/1 ARM at 2.875% to start with a 3.187% APR. A 10-year adjustable rate mortgage is quoted at 3.375% with an APR of 3.347%.
SunTrust Mortgage Rates
SunTrust advertises a conventional 30-year fixed mortgage today with an interest rate of 3.490% and a 3.686% APR. A 15-year fixed mortgage is quoted at a much lower interest rate of 2.800% with a 3.097% APR. Buyers can lock into a 30-year jumbo loan at 3.700%. The best rate for a 30-year fixed FHA loan at SunTrust is 3.250% today with a 4.411% APR. Qualified buyers can get a 30-year fixed VA loan with a 3.250% interest rate and a 3.528% APR.
SunTrust also offers adjustable rate mortgages. The popular 5/1 ARM offers the lowest rate the lender offers: 2.800% to start with a 3.339% APR. A 7-year adjustable rate mortgage is quoted at 3.100% today with a 3.406% APR.