U.S. lender, Quicken Loans, updated its mortgage rate sheet for February 24, 2015. The latest details on the lender’s latest conventional and non-conventional mortgage interest rates and annual percentage rates (APRs) can be be found below. This financial institution offers excellent interest 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 ideal options at this loan originator.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.75%, 3.976% APR
15-Year Fixed-Rate Mortgage: 2.99%, 3.387% APR
15-Year Fixed FHA Mortgage: 2.75%, 3.759% APR
7/1 Adjustable Rate Mortgage (ARM): 3.25%, 3.297% 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 reported last Thursday, that the average rate on the 30-year fixed mortgage increased to 3.76% from the former 3.69%. Meanwhile, the interest rate on the shorter-term 15-year fixed mortgage headed higher to 3.05% last week. Previously this type of mortgage loan was hovering at a rate of 2.99%, according to Freddie Mac.
A different company, Bankrate also disclosed its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan advanced at 3.96% last week. The interest rate on the shorter-term, 15-year mortgage rose by 4 basis point to 3.21%, according to the survey. The interest rate on the 5/1 adjustable rate mortgage improved in Bankrate’s survey, this type of loan is now hovering at 3.31%.
For further 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.