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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. 19 - 26 , 2016*

Product Interest Rate Points National Average
30-Year Fixed 3.54% 0.19 3.54%
15-Year Fixed 2.96% 0.18 2.96%
5/1 ARM 2.88% 0.18 2.88%
*weekly rolling averages

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2/16 3/16 4/16 5/16 6/16 7/16 8/16
5/1 ARM 2.93 3.03 2.95 2.91 2.94 2.82 2.87
  • 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
  • (2.65% APR)
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Mortgage Refinance rates in Virginia

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2.750% Rate

5/1 Yr. ARM

3.049% APR

$1,234 / month (est)

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Updated 8/23/2016

  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in Virginia.
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3.625% Rate

5/1 Yr. ARM

3.426% APR

$1,379 / month (est)

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Updated 8/23/2016

  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
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2.375% Rate

5/1 Yr. ARM

2.818% APR

$1,175 / month (est)

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Updated 8/24/2016

  • Call Today for our Zero Cost Refinance Program
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Mortgage rates tailored for you
  • Free mortgage rate quotes
  • Compare rates from up to 5 lenders
  • Select the personalized loan program that suits you best
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VA Loans for Virginia Veterans
  • Check your 2016 VA Home Loan Eligibility Here!
  • VA Loans = No Mortgage Insurance
  • Active or Retired VA Programs Available
  • Zero Down and Low Interest Rates
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VA Loans for Virginia Veterans
  • Check your 2016 VA Home Loan Eligibility Here!
  • VA Loans = No Mortgage Insurance
  • Active or Retired VA Programs Available
Learn More

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).

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 © 2016, 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
CHASE BANK MI 313-225-3774 ALL MICHIGAN 5/1 30 30 2.5 0.125 1000 LIBOR
EAST CAMBRIDGE SAVINGS BANK MA 617-354-7700 ALL MASSACHUSETTS 5/1 30 20 2.875 0 500 1YT
FIRST BANK MORTGAGE MO 800-876-5566 ALL MISSOURI 5/1 30 10 3.625 0.375 500 1YT
FIRST-CITIZENS BANK NC 910-792-6670 ALL NORTH CAROLINA 5/1 30 20 2.875 0 417 LIBOR
FIRST-CITIZENS BANK NC 336-631-2400 ALL NORTH CAROLINA 5/1 30 20 2.875 0 417 LIBOR
M & T BANK CT 203-862-8400 ALL CONNECTICUT 5/1 30 5 2.875 0 417 1YT
ROYAL CREDIT UNION WI 715-833-8111 ALL WISCONSIN 5/1 30 20 2.75 1.368 417 1YT
TALMER BANK & TRUST MI 810-385-2672 ALL MICHIGAN 5/1 30 20 2.99 0.4 500 LIBOR
WELLS FARGO HOME MORTGAGE FL 407-622-2770 ALL FLORIDA 5/1 30 20 3.25 0 1000 LIBOR
WELLS FARGO HOME MORTGAGE MA 508-616-1000 ALL MASSACHUSETTS 5/1 30 20 3 0 750 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: 08/24/2016

Latest Yesterday Week Ago
Federal Funds Rate 0.40% 0.40% 0.40%
Discount Rate 1.00% 1.00% 1.00%
Overnight Libor (1 day delay) 0.42% 0.42% 0.42%
Fannie Mae 30/60 2.90% 2.92% 2.86%
6 Month Libor (1 day delay) 1.23% 1.21% 1.21%
10 Year Treasury Security 1.58% 1.53% 1.50%
The Prime Rate 3.50% 3.50% 3.50%

Source: ARMindexes.com