Quicken Loans, which is an established lender in the country, updated its mortgage information for Wednesday, May 27. For details on the Detroit, MI-headquartered lender’s current mortgage interest rates and APRs, please check the data below. This lender advertises attractive mortgage rates under its loan program, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some ideal loan packages at this lender.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.875%, 4.135% APR
15-Year Fixed-Rate Mortgage: 3.125%, 3.524% APR
15-Year Fixed FHA Mortgage: 2.99%, 4.557% APR
7/1 Adjustable Rate Mortgage (ARM): 3.25%, 3.344% 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, announced last week, that the average rate on the 30-year fixed mortgage sank to 3.84% from the previous 3.85%. On the other hand, the interest rate on the shorter-term 15-year fixed loan declined to 3.05% during the past week. Previously this type of mortgage loan was hovering at a rate of 3.07%, according to the housing giant.
A different company, Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year conventional loan headed higher to 4.03% during the past week. The interest rate on the shorter-term, 15-year mortgage rose at 3.23%, according to the survey. The current rate on the 5/1 ARM shot up in Bankrate’s latest survey, this type of loan is now hovering at 3.19%.
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 see the lender’s website.