Quicken Loans, which is headquartered in Detroit, MI, updated its home purchase and refinance loan information for February 10, 2015, which is listed below. This financial institution advertises attractive 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 mortgage solutions at this lender.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.75%, 4.008% APR
15-Year Fixed-Rate Mortgage: 2.99%, 3.425% APR
15-Year Fixed FHA Mortgage: 2.99%, 4.004% APR
7/1 Adjustable Rate Mortgage (ARM): 3.625%, 3.476% 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.
Freddie Mac, which is based in McLean, VA, said on Thursday, that the average rate on the 30-year fixed mortgage edged down to 3.59% from the previous 3.66%. In addition, the average rate on the shorter-term 15-year fixed loan headed lower to 2.92% last week. A week earlier this type of mortgage loan averaged a rate of 2.98%, according to Freddie Mac.
A different company, Bankrate also disclosed its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage remained steady at 3.80% last week. The interest rate on the shorter-term, 15-year mortgage sank by 1 basis point to 3.12%, according to the survey. The current rate on the 5/1 adjustable rate mortgage soared in Bankrate’s survey, this type of loan is now standing at 3.20%.
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 take a look at the lender’s website.