Quicken Loans, which is headquartered in Detroit, MI, updated its home purchase and refinance loan information for Tuesday, March 10, which is listed below. Quicken Loans provides 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 mortgage, may find some suitable loan products at this financial institution.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.875%, 4.114% APR
15-Year Fixed-Rate Mortgage: 3.125%, 3.524% APR
15-Year Fixed FHA Mortgage: 2.875%, 3.925% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 3.404% 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.
Freddie Mac, which is based in McLean, VA, said last Thursday, that the average rate on the 30-year fixed loan sank to 3.75% from the previous 3.8%. On the other hand, the interest rate on the shorter-term 15-year fixed mortgage fell to 3.03% last week. A week earlier this type of mortgage loan averaged a rate of 3.07%, according to the firm.
Consumer financial services company, Bankrate also released its weekly mortgage survey, which showed that the interest rate on the 30-year conventional loan drifter higher to 3.93% last week. The interest rate on the shorter-term, 15-year mortgage grew by 1 basis point to 3.16%, according to the survey. The interest rate on the 5/1 adjustable rate mortgage surged in the company’s survey, this type of loan is now standing at 3.28%.
For more 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 head over to the lender’s website.