The big banks raised their rates about a week ago and are stubbornly holding at higher levels than were seen for the past several months.
Standard 30 year FRM interest rates are coming out at 3.500% at Chase Bank (NYSE:JPM) carrying an APR of 3.571%. 15 year loan interest rates are being quoted at 3.000% at the bank and an APR of 3.162% today.
The 5/1 Adjustable Rate Mortgages are coming out at 2.750% at Chase with an APR of 3.046%. The 7 year ARM loans have been offered at 2.875% currently with an APR of 3.076%.
The best 30 year refinance fixed rate loans at Chase have been published at 3.625% today carrying an APR of 3.706%. The short term, popular 15 year refinance FRMs are being quoted at 2.750% with an APR of 2.893%. The 5/1 ARM loans are listed at 2.500% at Chase. yielding an APR of 2.970% to start. 7 year refinance ARMs are listed at 2.750% today carrying an APR of 3.019%.