Latest Mortgage Rates: Quicken Loans Refinance Rates for August 31

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Latest Mortgage Rates: Quicken Loans Refinance Rates for August 31Quicken Loans, which is an established lender in the U.S., updated its mortgage information for Sunday, August 31. For details on the Detroit, MI-headquartered lender’s updated mortgage interest rates and annual percentage rates (APRs), please check the data below.

The 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 ideal loan packages at this lender.

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.

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Bankrate’s (NYSE:RATE) mortgage survey released last 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% last 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 last week. The average rate on the 15-year mortgage loan ticked down by 3 basis points to 3.24% last week, according to the housing giant’s latest weekly survey.

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 check the financial institution’s website.