Standard 30 year fixed rate mortgages are on the books at 3.625% at Bank of America (NYSE:BAC) today and an APR of 3.742%. The short term, popular 15 year FRM interest rates start at 3.000% carrying an APR of 3.280%.
In the ARM arena, 5 year loans stand at 2.375% at BoA and an APR of 3.018%. ARMs and their APRs change as interest rates move up and down.
30 year refinance FRMs are published at 3.750% at BoA yielding an APR of 3.868% today. Shorter term, popular 15 year refi loan interest rates have been listed at 3.000% today with an APR of 3.262%. In the ARM arena, 5 year refinance loans at BoA are being offered for 2.375%. carrying an APR of 3.018%.