Daily mortgage rates are higher | October 18, 2021 | Personal finance

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Current mortgage rates: jumbo variable rate mortgage rates 5/1

  • The ARM 5/1 rate is 2.412%.
  • It is unchanged starting on Friday. ??
  • It’s a month infold by 0.192 percentage points. ??

The interest rate on a variable rate mortgage will be set for a specified number of years. Then the rate will become adjustable and reset regularly. The monthly payments are also fixed at the start, but then change each time the rate adjusts. The interest rate on an ARM 5/1, for example, will be set for five years before being adjusted annually thereafter. You can also opt for other tenure durations, such as an ARM 7/1 and an ARM 10/1.

Current mortgage rates: VA, FHA and jumbo loan rates

The average rates for FHA, VA and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 3.123%. ??
  • The rate for a 30-year VA mortgage is 3.161%. ??
  • The rate for a 30-year jumbo mortgage is 3.596%. ??

Current mortgage refinancing rates

The average rates for 30-year, 15-year and 5/1 jumbo ARM loans are:

  • The refinance rate on a 30 year fixed rate refinance is 3.573%. ??
  • The refinancing rate on a 15 year fixed rate refinance is 2.616%. ??
  • The refinancing rate on a Jumbo ARM 5/1 is 2.709%. ??
  • The refinancing rate on a 7/1 compliant ARM is 3.877%. ??
  • The refinancing rate on a 10/1 compliant ARM is 4.062%. ??
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