Current mortgage rates are mostly on the way down for this Wednesday. The national average for the 30-year fixed rate is 3.94% and the 15-year mortgage is 3.27%.
The 5-year adjustable-rate mortgage (ARM) average is 3.23% and 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’s 30-year fixed mortgage is down to 4.00% and the 15-year mortgage is lower as well to 3.25%. The 10/1 ARM is 3.375% and the 5/1 ARM is 3.125%.
Wells Fargo is reporting its 30 year fixed purchase mortgage rate 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%.
Over at Chase Mortgage, the 30 year fixed mortgage is 3.75% and the 15 year is 3.125%. 30-year fixed mortgage refinance rates are at 3.875% and the 15-year fixed is at 3.125%.
The rates quoted above can change at any time and are not guaranteed. If you would like a live rate quote and/or to discuss other possible mortgage options, please call me, Erik Sandstrom, at 1-800-779-4547; or email me at Erik.Sandstrom@PrimeLending.com.