GMAC has never quite managed to get its footing this week in terms of truly competitive mortgage rates, having been consistently bettered by market-leaders including Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC).
Bank of America
The benchmark 30 year fixed rate mortgage interest rates are 3.250% at Bank of America (NYSE:BAC) yielding an APR of 3.415% today. 15 year loan interest rates are 2.750% yielding an APR of 3.028% today.
In the ARM arena, 5 year deals at Bank of America have been offered at 2.500% yielding an APR of 3.051%.
The best 30 year refinance loans at Bank of America can be had for 3.500% yielding an APR of 3.616%. The shorter term 15 year refinance FRM interest rates are listed at 2.750% and an APR of 2.973% today. ARMs in the 5 year refi category at BoA have been published at 2.500%. and an APR of 3.041%.
The best 30 year FRM interest rates are being quoted at 3.625% at GMAC Mortgage today with an APR of 3.651%. The VA 30 year loans can be had for 3.375% with an APR of 3.650%.
The short term 15 year FRM interest rates start at 3.125% carrying an APR of 3.136% today.
The 5 year ARMs at GMAC start at 3.000% with an APR of 3.169% to start. The 5 year Jumbo Adjustable Rate Mortgages have been published at 3.125% with a starting APR of 3.169%.
The benchmark 30 year refinance loan interest rates have been offered at 3.500% at GMAC carrying an APR of 3.577%. VA 30 year refi mortgage interest rates are on the books at 3.375% with an APR of 3.683%. Popular 15 year refinance loans are on the books at 3.125% at the bank and APR of 3.211% today.
ARM loans in the 5 year refinance category at GMAC have been published at 3.000% yielding an APR of 3.134% to start. 5/1 refi Jumbo Adjustable Rate Mortgages start at 3.125% with a starting APR of 3.140%.