Major U.S. financial institution, Quicken Loans disclosed the updated mortgage information for its conventional and non-conventional loans on Monday, August 25. Details on 30-year and 15-year fixed rate loans, discount points and annual percentage rates (APRs) are listed below.
This lender 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 mortgages at this financial institution.
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.
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 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 take a look at the financial institution’s website.