Quicken Loans and SunTrust (NYSE:STI) have been relatively closely tied all week so far, though SunTrust once again has a slight edge today with notably lower home purchase mortgage rates.
30 year FRMs are 3.250% at Quicken Loans carrying an APR of 3.480%. The shorter term, popular 15 year fixed rate loans have been listed at 2.625% and APR of 3.018% today.
7/1 ARM interest rates are on the books at 2.500% currently yielding an APR of 3.063% to start.
The benchmark 30 year refinance fixed rate loan interest rates at Quicken have been offered at 3.250% and APR of 3.480%. The shorter term, popular 15 year refinance loan interest rates are on the books at 2.625% today carrying an APR of 3.018%. The 7/1 ARM loans are published at 2.500% currently showing an APR of 3.063%.
Standard 30 year fixed rate loans are on the books at 3.375% at SunTrust Banks (NYSE:STI) today carrying an APR of 3.477%. 30 year FHA loan interest rates are listed at 3.200% with a bit higher APR of 4.295%. 15 year fixed rate loan interest rates at the bank start at 2.700% and an APR of 2.891% today.
5/1 ARM loans are coming out at 2.300% at SunTrust and the APR is 2.939% on initial purchase. 7/1 ARM loans have been quoted at 2.400% with an APR of 2.921%.