Quicken Loans, which is headquartered in Detroit, MI, updated its home purchase and refinance loan information for Monday, April 27, which is discussed below. Quicken Loans advertises excellent mortgage 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 options at this loan originator.
Quicken Loans Refinance Rates
30-Year Fixed-Rate Mortgage: 3.75%, 3.934% APR
15-Year Fixed-Rate Mortgage: 2.875%, 3.327% APR
15-Year Fixed FHA Mortgage: 2.75%, 4.293% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 3.285% 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 last Thursday, that the average rate on the 30-year fixed mortgage fell to 3.65% from the former 3.67%. On the other hand, the average rate on the shorter-term 15-year fixed mortgage drifted lower to 2.92% last week. Previously this type of mortgage loan was hovering at 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 steady at 3.79% last week. The interest rate on the shorter-term, 15-year mortgage has been unchanged at 3.03%, according to the survey. The interest rate on the 5/1 ARM moved higher in the company’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 take a visit to the financial institution’s website.