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Current 5/1 Adjustable Rate Mortgage (ARM) rates

5/1-Year ARM

Mortgage Rates for Jan. 11 - 18 , 2018*

Product Interest Rate Points National Average
30-Year Fixed 4.04% 0.60 4.04%
15-Year Fixed 3.49% 0.50 3.49%
5/1 ARM 3.46% 0.30 3.46%
*weekly rolling averages

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7/17 8/17 9/17 10/17 11/17 12/17 1/18
5/1 ARM 3.20 3.16 3.16 3.18 3.24 3.39 3.46
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

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Mortgage Refinance rates in Virginia

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3.375% Rate

5/1 Yr. ARM

3.969% APR

$1,337 / month (est)

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Updated 1/18/2018

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Virginia Interest Rates as low as 2.5% (3.696APR)
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