Freddie Mac said the 30-year fixed-rate mortgage averaged 4.02% for the week ending May 18, down from 4.05%. This is down from last week's 4.05% but up from last year's 3.58%. The 5 year ARM deals at Harris Bank start at 2.750% with a starting April of 3.703%. The rate stood at 3.58 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971. 7 year ARM interest rates are coming out at 3.000% now and April of 3.678%.
Drilling down a bit, 's own stock waned to 50.45 down -2.91%.
The benchmark 30 year loan interest rates at Suntrust Banks (NYSE:STI) can be had for 3.990% with an April of 4.1081%. The fee on 15-year loans also held steady at 0.5 point.
The best 30 year loan interest rates at Chase Bank (NYSE:JPM) are available starting at 3.750% and April of 3.915% today. "The year-over-year increase was driven by conventional loans, which tend to be larger, leading to a record high for the average purchase loan size". The 7 year ARM loans are being quoted at 3.400% now showing an April of 3.8120%.
The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days.
30 year loan interest rates at Suntrust Banks (NYSE:STI) start at 3.990% today with an April of 4.1081%. The 10 year ARM loans have been offered at 3.250% now with an April of 3.687%. 7 year refinance ARMs are available starting at 3.500% today carrying an April of 3.581%.
And now, Harris Bank's own stock price dropped to 67.69 down -1.36.