Mortgage Rates Today: PHH Mortgage in Line with Low National Average
As it the case with the majority of other major US lenders, PHH Mortgage (NYSE:PHH) is today offering a superb catalogue of mortgage products, many of which are close to the lowest levels recorded in over 60 years.
For borrowers looking into the idea of a new or used home purchase, 30 year fixed rate deals can today be locked in for 4.040% with a resulting APR of 4.213%, while the 15 year alternative today rests at 3.350% with an APR of 3.653%. 10 year fixed terms are also being offered, with a rate of 3.280% yielding an APR of 3.718%.
With regard to adjustable terms, the popular 7/1 ARM can be taken out with a starting rate of 3.030% and a resulting APR of 3.247%, while the 5/1 ARM alternative can be taken for 2.810% to start, which amounts to an APR of 3.181%.
Despite the fact that most major US lenders are offering mortgage deals at their lowest rates in recorded history, it has not proved enough to generate a boom in the market for new home purchases, which is on course for its worst performing year in over a decade.
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