Mortgage rates stand solidly higher for the past two weeks. The only motion lower is the occasional sell off on Wall Street which happened on Monday but quickly turned around yesterday.
30 year loans have been listed at 3.625% at Bank of America (NYSE:BAC) carrying an APR of 3.742% today. Shorter term, popular 15 year fixed rate loan interest rates start at 3.000% at the bank yielding an APR of 3.299%.
ARM interest rates in the 5 year category at BoA have been listed at 2.625% and an APR of 3.085%. ARMs and their APRs change as interest rates move up and down.
The benchmark 30 year refinance FRM interest rates are listed at 3.750% at BoA today and an APR of 3.888%. Popular 15 year refinance fixed rate loan interest rates have been quoted at 3.000% carrying an APR of 3.280% today. The 5 year refi ARMs are being offered for 2.500% at BoA. and the APR is 3.041%.