Major U.S. financial institution, Quicken Loans disclosed the updated mortgage information for its conventional and non-conventional loans on Thursday, October 16. The latest details on the mortgage originator’s 30-year and 15-year home refinance loans, discount points and annual percentage rates (APRs) are listed below.
This financial institution offers excellent interest rates under its mortgage 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 lender.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.99%, 4.219% APR
15-Year Fixed-Rate Mortgage: 3.25%, 3.594% APR
15-Year Fixed FHA Mortgage: 2.99%, 3.89% APR
7/1 Adjustable Rate Mortgage (ARM): 3.25%, 3.157% 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 published this week showed that the interest rate on the 30-year fixed loan tumbled to 4.01%. With regards to the 15-year FRM, the interest rate improved to 3.23% this week, according to the company’s latest mortgage survey. The 5/1 ARM looks particularly attractive this week, as it stands at 3.09%, Bankrate’s survey showed.
Now, shifting to Freddie Mac’s national weekly survey, the average rate on the 30-year fixed mortgage dipped to 3.97% this week, according to the organization’s data. The average rate on the 15-year mortgage loan dropped as well, as it’s now coming out at 3.18%, the mortgage-finance company reported.
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 see the lender’s website.