Current 5/1 Year Adjustable Rate Mortgage (ARM) rates from lenders in the HSH editorial survey
Mortgage Rates for Oct. 24 - 31 , 2014*
|Product||Interest Rate||Points||National Average|
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- 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
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, the below 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).
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
|BALLSTON SPA NATIONAL BANK||NY||518-885-6781||SARATOGA||5/1||30||20||3||0||417||1YT|
|CITIZENS BANK||PA||412-227-5053||ALL PENNSYLVANIA||5/1||30||20||3.125||0||417||LIBOR|
|FIRST NIAGARA BANK||NY||585-393-0660||ALL NEW YORK||5/1||30||20||3.125||0||417||LIBOR|
|FIRST NIAGARA BANK||NY||315-484-5581||ALL NEW YORK||5/1||30||20||3.125||0||417||LIBOR|
|FLAGSTAR BANK||MI||248-312-5400||ALL MICHIGAN||5/1||30||20||3.625||0||1500||LIBOR|
|GOLDEN MORTGAGE CORP||NJ||908-927-9100||ALL NEW JERSEY||5/1||30||20||3.25||0||750||LIBOR|
|HUNTINGTON MORTGAGE COMPANY||OH||614-480-6505||ALL OHIO||5/1||30||20||3||0||417||LIBOR|
|QUICKEN LOANS||MI||313-373-3000||ALL MICHIGAN||5/1||30||20||4.625||0||417||LIBOR|
|SALISBURY BANK & TRUST||CT||860-435-9801||LTCHFD CT,DTCHS NY,BERKS MA||5/1||30||20||3.125||0||650||1YT|
|STURDY SAVINGS BANK||NJ||609-368-8217||CAPE MAY||5/1||30||20||3.5||0||417||1YT|
|Be sure to see our other loan samples:|
|15-Year FRMs||30-Year FRMs||1-Year ARMs|
Column heading key
Daily US & International Rates - Last update: 10/31/2014
|Federal Funds Rate||0.09%||0.09%||0.09%|
|Overnight Libor (1 day delay)||0.09%||0.09%||0.09%||Fannie Mae 30/60||3.65%||3.63%||3.51%|
|6 Month Libor (1 day delay)||0.32%||0.32%||0.32%||10 Year Treasury Security||2.34%||2.30%||2.20%|
|The Prime Rate||3.25%||3.25%||3.25%|