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Current 5/1 Adjustable Rate Mortgage (ARM) rates

5/1-Year ARM

Mortgage Rates for Sep. 09 - 16 , 2016*

Product Interest Rate Points National Average
30-Year Fixed 3.61% 0.16 3.61%
15-Year Fixed 3.00% 0.16 3.00%
5/1 ARM 2.95% 0.15 2.95%
*weekly rolling averages

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3/16 4/16 5/16 6/16 7/16 8/16 9/16
5/1 ARM 3.03 2.95 2.91 2.94 2.82 2.87 2.93
  • 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
  • Lower Refinance Rates, 15yr Fixed
  • (2.88% APR)
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Mortgage Refinance rates in Virginia

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3.000% Rate

5/1 Yr. ARM

3.578% APR

$1,275 / month (est)

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Updated 12/5/2016

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3.375% Rate

5/1 Yr. ARM

3.787% APR

$1,337 / month (est)

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Updated 12/5/2016

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3.125% Rate

5/1 Yr. ARM

3.590% APR

$1,295 / month (est)

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Updated 12/5/2016

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Mortgage rates tailored for you
  • Free mortgage rate quotes
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