Today, Chase Bank is currently offering a thirty-year fixed-rate mortgage (FRM) with an interest rate of 4.500%, virtually unchanged fro yesterday and most of last week. The interest rates today are a significant amount lower than this time last year when the thirty-year FRM was well above 5%.
The very common fifteen-year FRM is averaging 3.875%, up from 3.750% not long ago.
Also, the seven-year ARM is averaging 3.625%, up from 3.875%, while the five-year ARM is averaging 3.250%, up from 3.500% just about a week ago.
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