Interest rates on home loans jumped up today as the Federal Reserve expressed doubts about whether they would continue printing money as long as they had previously announced.
The benchmark 30 year loan deals are on the books at 3.270% at PHH Mortgage and APR of 3.439%. Shorter term 15 year loans are on the books at 2.480% at the bank today with an APR of 2.783%.
10 year fixed rate mortgage interest rates have been offered at 2.480% carrying an APR of 2.921%. 20 year loan interest rates are 3.160% with an APR of 3.397% today.
40 year loans have been listed at 3.660% today yielding an APR of 3.799%.
The 3 year ARMs have been listed at 4.060% with an APR of 3.506%. ARM loans in the 5 year category are listed at 2.170% at PHH Mortgage with a starting APR of 2.960% which will change as interest rates adjust. The 7 year ARMs have been quoted at 2.375% currently with an APR of 2.947%. ARM interest rates in the 10 year category are listed at 2.730% with an APR of 3.052%.
Standard 30 year refinance fixed rate loan interest rates have been published at 3.500% at PHH Mortgage yielding an APR of 3.723% today. The short term, popular 15 year refi loans at the bank are being quoted at 2.750% and APR of 3.239% today. ARM interest rates in the 7 year refinance category have been offered at 2.625% currently and the APR is 3.141%.