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Current 5/1 Adjustable Rate Mortgage (ARM) rates

5/1-Year ARM

Mortgage Rates for Mar. 16 - 23 , 2017*

Product Interest Rate Points National Average
30-Year Fixed 4.23% 0.50 4.23%
15-Year Fixed 3.44% 0.50 3.44%
5/1 ARM 3.24% 0.40 3.24%
*weekly rolling averages

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9/16 10/16 11/16 12/16 1/17 2/17 3/17
5/1 ARM 2.81 2.83 2.99 3.23 3.24 3.20 3.22
Source: Freddie Mac
  • 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 governed by, margin and caps

  • Fixed Mortgage Rates 3.25% APR
  • Lower Refinance Rates, 15yr Fixed
  • (3.25% APR)

    Mortgage Refinance rates in Virginia

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    3.000% Rate

    5/1 Yr. ARM

    3.702% APR

    $1,275 / month (est)

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    2.750% Rate

    5/1 Yr. ARM

    3.611% APR

    $1,234 / month (est)

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    Updated 3/29/2017

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    3.250% Rate

    5/1 Yr. ARM

    3.772% APR

    $1,316 / month (est)

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    Updated 3/29/2017

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