The benchmark 30 year loan interest rates stand at 3.625% at Suntrust Banks (NYSE:STI) today yielding an APR of 3.734%. The lower FHA 30 year mortgage loans are being quoted at 3.625% with an APR of 4.625%. The short term, popular 15 year fixed rate loan interest rates have been quoted at 2.800% and an APR of 3.013%.
In the ARM arena, 5 year deals at Suntrust have been listed at 2.400% and an APR of 2.895%. ARMs and their APRs change as interest rates move up and down. The 7 year ARMs are being quoted at 2.625% today and APR of 2.935%.