The benchmark 30 year loan interest rates are being quoted at 3.750% at PHH Mortgage and an APR of 3.850%. The shorter term 15 year loan deals at the bank have been published at 3.350% with an APR of 3.539%.
10 year loans at the bank have been published at 3.125% and an APR of 3.397%. The best 20 year loan interest rates at the bank have been listed at 3.690% and an APR of 3.839% today.
The 5/1 Adjustable Rate Mortgage interest rates at PHH are 3.375% with a starting APR of 3.883%. The 7/1 Adjustable Rate Mortgages are available starting at 3.540% yielding an APR of 3.890% to start. 10 year ARMs are on the books at 3.750% with an APR of 3.953%.
Refinance Mortgage Rates
The benchmark 30 year refinance fixed rate loan interest rates have been listed at 3.50% at PHH yielding an APR of 3.723%. Shorter term 15 year refinance fixed rate mortgage interest rates are being quoted at 2.75% at the bank today and an APR of 3.239%. 7/1 Adjustable Rate Mortgages have been published at 2.625% today showing an APR of 3.141%.
DOW and Stock Market Results
Refinance and mortgage rates are sometimes driven by mortgages packaged into financial instruments that go in the same direction as the stock market. Markets improved by the end of trading to leave the DOW at 21066.00 an increase of +3.00.
Interest rates at the bank took a different path than the market direction. Independent of mortgage rates, the banks stock moved ahead to 13.58 up +0.44%.
The best 30 year loan deals have been offered at 4.000% at Wells Fargo (NYSE:WFC) today carrying an APR of 4.061%. 30 year FHA FRM interest rates can be had for 4.375% with a rather higher APR of 5.429%. The typically higher interest jumbo 30 year mortgage interest rates stand at 3.625% and an APR of 3.432% which is of course a bit higher than the non-jumbo loans.
The short term, popular 15 year fixed rate mortgages have been offered at 3.875% and APR of 4.166%.
5/1 ARMs at Wells have been quoted at 3.375% carrying an APR of 3.445%. The 5/1 Adjustable Rate Mortgages have been listed at 3.625% yielding an APR of 3.873% to start.
Interest Rates for Refinance
The best 30 year refinance fixed rate mortgages at Wells have been published at 4.000% today yielding an APR of 4.061%. The FHA version of the 30 year refinance loans stand at 4.375% with an APR of 5.429% today. The jumbo options for the 30 year refinance loans are 3.375% at the bank with an APR of 3.713%.
Large (in eligible areas) 30 year refinance fixed rate loan interest rates have been listed at 3.625% with an APR of 3.432%.
The shorter term 15 year refinance fixed rate loans are available starting at 3.875% yielding an APR of 3.873% today. The 5/1 refi Adjustable Rate Mortgages are being offered for 3.625% yielding an APR of 3.873% to start. ARMs in the 7 year refi category have been offered at 3.375% today and APR of 3.445%.
Stock Market Update
Refinance interest rates sometimes rise and fall because of MBS’s that usually move with the stock market. Markets increased in trading today to leave the DJIA at 21066.00 up +0.01.
Rates at the bank decided not to move with the DJIA day end results today. Closer to home, Wells’s stock price declined to 52.41 down -0.37.