Michigan-based lender, Quicken Loans revised its mortgage loan information for April 30, 2015. Detailed information on Quicken Loan’s mortgage interest rates and APRs are listed below. Quicken Loans provides excellent interest 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 suitable mortgage products at this loan originator.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.75%, 4.008% APR
15-Year Fixed-Rate Mortgage: 2.99%, 3.387% APR
15-Year Fixed FHA Mortgage: 2.75%, 4.371% 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 Thursday, that the interest rate on the 30-year fixed loan improved to 3.65% from the previous 3.67%. On the other hand, the average rate on the shorter-term 15-year fixed loan drifted lower to 2.92% last week. Previously this type of mortgage loan averaged a rate of 2.94%, according to the organization.
A different company, Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage remained unchanged at 3.79% last week. The interest rate on the shorter-term, 15-year mortgage has been firm at 3.03%, according to the the latest data. The current rate on the 5/1 ARM increased in Bankrate’s survey, this type of loan is now coming out at 3.09%.
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 financial institution’s website.