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Current 5/1 Adjustable Rate Mortgage (ARM) rates

5/1-Year ARM

Mortgage Rates for Jul. 05 - 12 , 2018*

ProductInterest RatePointsNational Average
30-Year Fixed4.53%0.404.53%
15-Year Fixed4.02%0.404.02%
5/1 ARM3.86%0.303.86%
*weekly rolling averages

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1/182/183/184/185/186/187/18
5/1 ARM3.493.603.653.663.793.823.80
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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3.875% Rate

5/1 Yr. ARM

4.221% APR

$940 / month (est)

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Updated 7/16/2018

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