Standard 30 year loans are published at 3.500% at Chase Bank (NYSE:JPM) today carrying an APR of 3.571%. That rate is up from 3.375% yesterday prior to the stock market rebound, the result of not falling off the fiscal cliff (at least for now). Of course the negotiations produced a deal which actually increases the federal deficit, so no worries, the economy is still tanking and mortgage rates will be back down again soon.
Shorter term, popular 15 year fixed rate loans have been quoted at 3.000% with an APR of 3.126% today.
The 5/1 Adjustable Rate Mortgage interest rates have been listed at 2.625% at Chase Bank and the APR is 3.020% on initial purchase. 7/1 ARM interest rates have been quoted at 2.875% currently with a starting APR of 3.072%.
The benchmark 30 year refinance loan deals have been listed at 3.625% at Chase Bank today carrying an APR of 3.696%. Popular 15 year refi FRM interest rates at the bank are 2.625% yielding an APR of 2.785% today. The 5 year refinance ARM loans at Chase have been listed at 2.750%. with an APR of 3.053%. ARMs in the 7 year refinance category have been offered at 2.875% with an APR of 3.082%.