U.S. lender, Quicken Loans, updated its mortgage rate sheet for Sunday, October 12. The latest details on the lender’s conventional and non-conventional mortgage interest rates and annual percentage rates (APRs) can be be found below.
This mortgage originator provides 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 loan, may find some suitable mortgages at this financial institution.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.99%, 4.241% APR
15-Year Fixed-Rate Mortgage: 3.25%, 3.669% APR
15-Year Fixed FHA Mortgage: 2.99%, 3.928% APR
7/1 Adjustable Rate Mortgage (ARM): 3.25%, 3.266% 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 this week revealed that the interest rate on the 30-year fixed loan headed higher to 4.27%. With regards to the 15-year FRM, the interest rate rose to 3.42% this week, according to the company’s weekly mortgage survey. The 5/1 ARM soared by 4 basis points to 3.29%, Bankrate said.
As far as national average mortgage interest rate are concerned, the interest rate on the 30-year fixed edged up to 4.12%, Freddie Mac reported this week. The average rate on the 15-year mortgage loan surged by 2 basis points to 3.26% this 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 head over to the lender’s website.