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5/1 adjustable rate mortgages are 6.37%. 30-year fixed refinance rates are 7.21%. ... 10-Year Fixed Rate. 7-Year ARM. 5-Year ARM. 3-Year ARM. Current refinance mortgage rates for January 2024.
10-year fixed rate — 6.60%. 5/1 adjustable rate mortgage — 6.71%. ... Current mortgage rates for May 13, 2024. Mortgage rates are determined by many factors that include inflation rates ...
That is 15 basis points lower than this time last week for a 30-year fixed mortgage. 15-year fixed rates and 5/1 adjustable mortgage rates also took a dip, landing at 6.62% for 15-year rates and 6 ...
Let’s say you take out a 5/1 ARM loan for $300,000 with a 6.5 percent interest rate. For the first five years of the 30-year loan, your rate would be locked in at 6.5 percent, making your ...
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [1] The loan may be offered at the lender's standard variable rate/base rate. There may be a direct ...
A note regarding mortgage rate data available for the 1990s: FRED data on 15-year fixed-rate mortgages starts in August 1991, so 1990 and part of 1991 are not factored into this analysis.
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