The largest online retail mortgage lender in the country, Quicken Loans, updated its home refinance rates for Friday, August 15. Detailed information on the lender’s latest mortgage interest rates and APRs can be found below.
Quicken Loans offers excellent interest rates under both its home purchase and refinance programs, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some suitable loan solutions at this financial institution.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 4.125%, 4.302% APR
15-Year Fixed-Rate Mortgage: 3.125%, 3.561% APR
15-Year Fixed FHA Mortgage: 2.99%, 3.966% APR
7/1 Adjustable Rate Mortgage (ARM): 2.99%, 3.106% 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.
Bankrate’s (NYSE:RATE) mortgage survey released this week revealed that the interest rate on the 30-year fixed loan declined to 4.27%. With regards to the 15-year FRM, the interest rate sank to 3.39% this week, according to the company’s weekly mortgage survey. The more flexible 5/1 ARM drifted lower by 2 basis points to 3.32%, Bankrate disclosed in its survey.
As far as national average mortgage interest rate are concerned, the interest rate on the 30-year fixed loan fell to 4.12%, Freddie Mac reported this week. The average rate on the 15-year mortgage loan ticked down by 3 basis points to 3.24% this week, according to the housing giant’s latest weekly survey.
Further information on Quicken Loans’ current mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the lender’s website.