Detroit, MI-based lender, Quicken Loans revised its home purchase and refinance loan loan information for Monday, May 18. Current details on Quicken Loan’s mortgage interest rates and APRs are listed below. This financial institution advertises excellent mortgage rates under its loan program, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some ideal loan options at this lender.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.875%, 4.124% APR
15-Year Fixed-Rate Mortgage: 2.99%, 3.425% APR
15-Year Fixed FHA Mortgage: 2.875%, 4.46% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 3.306% APR
Please, bear in mind, that the present mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates were made based on discount points, origination fees, average loan fees and closing costs.
Virginia-based housing finance company, Freddie Mac announced last Thursday, that the interest rate on the 30-year fixed loan rose to 3.85% from the former 3.80%. On the other hand, the interest rate on the shorter-term 15-year fixed mortgage ticked up to 3.07% last week. A week earlier this type of mortgage loan averaged a rate of 3.02%, according to the organization.
Consumer financial services company, Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage increased to 4.01% last week. The interest rate on the shorter-term, 15-year mortgage ticked up at 3.22%, according to the survey. The interest rate on the 5/1 ARM improved in the company’s latest survey, this type of mortgage is now coming out at 3.17%.
For additional details on the latest home purchase and refinance mortgage interest rates at Quicken Loans, as well as information on borrowing terms and conditions and loan assumptions, please visit the financial institution’s website.