Mortgage rates for this Friday morning are holding steady. The 30 year fixed mortgage rate avearge is 3.90% and average rates for the 15-year mortgage are 3.24%.
5-year adjustable-rate mortgage (ARM) average is 3.22% and the current 1 year ARM is at a 2.68% average. The average 30-year fixed FHA loan rate is 3.60% and jumbo loan rate for the 30-year is 4.15%.
Bank of America is reporting its 30-year fixed is 4.00% and the 15-year mortgage is lower as well to 3.375%. The 10/1 ARM is 3.50% and the 5/1 ARM is 3.125%.
The 30-year fixed mortgage purchase rate at Wells Fargo is 4.00% and the 15-year fixed is 3.375%. The 30-year refinance rate is 4.125% and the 15-year mortgage is 3.50%.
Chase Mortgage’s 30-year fixed rate for the purchase mortgage rate is 3.875% and the 15 year is 3.25%. 30-year fixed mortgage refinance rates are at 3.875% and the 15-year fixed is at 3.25%.
The rates quoted above are not guaranteed until lock-in with the respective lender. Your <em>guaranteed rate</em> will depend on various factors including the loan itself, closing costs, buy downs, and rate locks.
If you would like a live rate quote and/or to discuss other possible mortgage options with Prime Lending, please call me, Erik Sandstrom, at 1-800-779-4547; or email me at Erik.Sandstrom@PrimeLending.com.