Mortgage interest rates on conventional refinance loans were updated by established U.S. lender, Fifth Third Bank (NASDAQ:FITB), for Tuesday, April 14. For details on the bank’s most up-to-date mortgage interest rates, discount points and APRs, please check the data below. Fifth Third Bank has been providing excellent interest rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable mortgage products at this financial institution.
Fifth Third Bank Refinance Rates
30-Year Fixed Mortgage: 3.625%, 3.779% APR
20-Year Fixed Mortgage: 3.5%, 3.632% APR
15-Year Fixed Mortgage: 3%, 3.118% APR
10-Year Fixed Mortgage: 2.875%, 3.013% APR
The rate information provided assumes the purpose of the mortgage loan is to refinance an existing mortgage with a loan amount of $140,000. The interest rate reflects a 60 day rate lock-in period. Other assumptions include a minimum FICO score of 740, a maximum loan-to-value of 75%. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
Please, note that the current mortgage interest rates above are only estimates. Mortgage rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions.
Freddie Mac, which is based in McLean, VA, reported last week, that the average rate on the 30-year fixed loan decreased to 3.66% from the former 3.70%. In addition, the interest rate on the shorter-term 15-year fixed mortgage ticked down to 2.93% last week. A week earlier this type of mortgage loan was hovering at a rate of 2.98%, according to Freddie Mac.
A different company, Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year mortgage remained intact at 3.82% during last week. The interest rate on the shorter-term, 15-year mortgage decreased by 2 basis points to 3.04%, according to the the latest data. The current rate on the 5/1 adjustable rate mortgage improved in Bankrate’s survey, this type of loan is now hovering at 3.06%.
For further details on the latest mortgage interest rates at Fifth Third Bank, as well as information on borrowing terms and conditions and loan assumptions, please take a look at the financial institution’s website.