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Current 5/1 Year Adjustable Rate Mortgage (ARM) rates from lenders in the HSH editorial survey

5/1-Year ARM

Mortgage Rates for Aug. 22 - 29 , 2014*

Product Interest Rate Points National Average
30-Year Fixed 4.17% 0.14 4.17%
15-Year Fixed 3.45% 0.12 3.45%
5/1 ARM 3.14% 0.08 3.14%
*weekly rolling averages

Show graph data
  • Rate changes : Fully variable, typically changing at one-year intervals; some have shorter change intervals
  • Benefits : Can have lowest interest rates, but qualification may not depend upon today's interest rate
  • Alternative Strategy :Consider Hybrid ARM to ameliorate rate and payment risks for a given period
  • Useful for : Purchasing or refinancing when interest rates are near top of cycle, and are likely to fall, or sale or refinance is anticipated within three years
  • Consider if : Buying or refinancing when income can handle frequent payment changes and worst-case scenario for rates over a four-year period
  • When shopping, ask about : A history of the Index the loan is keyed off, margin and caps

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  • Low 10-Yr, 15-Yr, 30-Yr Rates. 3.3 APR*
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Mortgage refinance rates in Virginia

2.500% Rate

5/1 Yr. ARM

2.871% APR

$790 / month (est)

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Updated 9/2/2014

Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
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2.500% Rate

5/1 Yr. ARM

2.877% APR

$790 / month (est)

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Updated 9/2/2014

National LenderVA Approved LenderFHA Approved LenderOffers HARP LoansExtended Support Hours
  • Learn how we transformed home lending into an enjoyable experience.
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2.750% Rate

5/1 Yr. ARM

2.993% APR

$816 / month (est)

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Updated 9/2/2014

  • Direct Mortgage Lender
  • Billions Funded
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2.875% Rate

5/1 Yr. ARM

3.064% APR

$830 / month (est)

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Updated 9/2/2014

Immediate Rate LockLow FeesExtended Support HoursOffers HARP LoansNational Lender
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2.750% Rate

5/1 Yr. ARM

2.846% APR

$816 / month (est)

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Updated 8/29/2014

National LenderMember of BBBFHA Approved LenderOffers HARP LoansVA Approved Lender
  • DIRECT LENDER. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in Virginia.
  • These rates won't last. Call now and lock-in your low rate!
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3.500% Rate

5/1 Yr. ARM

3.291% APR

$898 / month (est)

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Updated 9/2/2014

Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
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Here's a small random sample of loan rates drawn from the survey of objective information we collect every day. Our database contains current data on thousands of loans from lenders coast to coast -- including jumbo loans.

Unlike other 'surveys,' and other Web sites, these mortgage rates are not advertisements. HSH contacts lenders across the country every week -- the same objective survey we've conducted for over 30 years. Our data is so reliable that it's used by Fortune 500 companies, government agencies, the media, and other clients.

These are representative of loans which may be offered in your area, but we don't claim that these are the "best" available. There are many factors which make the "best" loan dependent upon your individual circumstance.

Ready to order your comprehensive list of local lenders? We can email the latest mortgage report to you for just $10 (plus $1 s/h). It includes the application fee, APR, rate-lock info, index, margin, and caps on 3 or more loans per lender. Or you can order it as part of our Homebuyer's Mortgage Kit, which is just $20 (plus $3 s/h).

List of Areas List of Areas

To order a report for your area by Phone, just call 1-800-873-2837 (Mon-Fri, 9am-5pm Eastern time); Visa and MasterCard accepted.

All information is Copyright © 2014 HSH Associates, Financial Publishers, Riverdale NJ. All rights reserved.

Lender State Phone Lending Area % Adjustment
period
Term % down
Rate %
Points
Maximum Loan
$1,000
Index
BANK MUTUAL MN 651-735-5500 ALL MINNESOTA 5/1 30 20 2.875 0 417 1YT
BANK OF AMERICA MORTGAGE WA 206-585-3666 WESTERN WASHINGTON 5/1 30 20 3.75 0 1000 LIBOR
CHASE BANK TX 713-524-5755 ALL TEXAS 5/1 30 30 2.75 0.125 1000 LIBOR
CHASE BANK TX 713-524-5755 ALL TEXAS 5/1 30 20 3.375 0.125 417 LIBOR
CHASE BANK CA 714-535-2883 SOUTHERN CALIFORNIA 5/1 30 30 2.875 0 1000 LIBOR
CHASE HOME FINANCE PA 215-641-0900 ALL PENNSYLVANIA 5/1 30 20 4.375 0.5 417 LIBOR
CITIBANK, FSB NY 718-472-3400 ALL NEW YORK 5/1 30 20 3.25 0.375 417 LIBOR
PHH HOME LOANS MN 952-844-6300 ALL MINNESOTA 5/1 30 10 3 0 417 LIBOR
PNC MORTGAGE IL 847-362-3000 ALL ILLINOIS 5/1 30 5 2.875 0 417 LIBOR
TD BANK ME 207-774-1733 ALL MAINE 5/1 30 20 3.438 0 417 LIBOR

 

Be sure to see our other loan samples:
15-Year FRMs30-Year FRMs1-Year ARMs

Notes:

  • All interest rates and terms are subject to change without notice.
  • These lenders offer many different loan programs. If you want one that isn't listed, contact the lender directly.
  • The conforming loan limit for a one-family home is $417,000; two- to four-family homes have higher loan amounts.
  • Lenders which offer conforming loans almost always offer jumbo loans as well.

Column heading key

Lender: The institution. If a credit union, you'll need to contact them for membership information and details.

State: The state in which the lender is located.

Phone: The lender's contact number.

Lending Area: The area which the listed office serves.

Adjustment Period: How often the interest rate adjusts (in years).

Term:The total term of the mortgage.

Down Payment: The required down payment for the listed loan.

Interest Rate: The interest rate being charged for the listed loan.

Points: A fee, expressed as a percentage of the loan amount.
One point is equal to a 1% fee; a 1% fee on $100,000 would be a $1000 fee.

Maximum Loan: The maximum dollar amount available at the listed rates and terms.

Index Used: The name of the index used to govern rate changes.

Daily US & International Rates - Last update: 09/02/2014

Latest Yesterday Week Ago
Federal Funds Rate 0.09% 0.09% 0.09%
Discount Rate 0.75% 0.75% 0.75%
Overnight Libor (1 day delay) 0.09% 0.09% 0.09%
Fannie Mae 30/60 3.76% 3.73% 3.82%
6 Month Libor (1 day delay) 0.33% 0.33% 0.33%
10 Year Treasury Security 2.37% 2.39% 2.39%
The Prime Rate 3.25% 3.25% 3.25%

Source: ARMindexes.com