Interest rates on Quicken Loans’ home refinance loans have remained frozen on Wednesday, August 13, according to the lender’s updated loan information. At this financial institution, the 30-year conventional refinance loan is advertised at a rate of 4.125%, unchanged since the beginning of the week. The lender hasn’t changed the interest rate on the 15-year FRM either, it’s quoted at 3.25% this mid-week.
Switching to non-conventional loans, the FHA-insured 30-year fixed mortgage is published at a rate of 2.99% on Wednesday. With regards to the 7/1 adjustable rate mortgage (ARM), it has a lending rate of 3.125%, today’s mortgage information showed. Check the details below for more information on current mortgage rates and APRs.
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 loan, may find some ideal mortgage products at this lender.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 4.125%, 4.356% APR
15-Year Fixed-Rate Mortgage: 3.25%, 3.688% APR
15-Year Fixed FHA Mortgage: 2.99%, 4.023% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 3.159% 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 last week revealed that the interest rate on the 30-year fixed loan drifted higher to 4.29%. With regards to the 15-year FRM, the interest rate remained steady at 3.40% last week, according to the company’s weekly mortgage survey. The more flexible 5/1 ARM dipped by 4 basis points to 3.34%, Bankrate disclosed in its survey.
As far as national average mortgage interest rate are concerned, the interest rate on the 30-year fixed loan soared to 4.14%, Freddie Mac reported last week. The average rate on the 15-year mortgage loan moved up by 4 basis points to 3.27% last 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 financial institution’s website.