Mortgage Rates Today: Strong Deals for Friday at GMAC
As is the case across the board for most US lenders today, GMAC deals are displaying minor fluctuations in both directions, though are overall offering a range of excellent deals that are some of the best seen in recent years.
For both new and used home purchases, 30 year fixed term deals can today be locked in for 4.250% with an APR of 4.376%, while the popular 15 year fixed term for purchase is at 3.500% with an APR of 3.755%.
The 5 year ARM for purchase can be taken out with a starting rate of 2.500% and an APR of 3.015%, while the Jumbo 5 year ARM is now at 3.125% and 3.233% APR variable.
For those looking to save with a refinancing deal, 30 year fixed term contracts are today being offered for 4.000% with a resulting APR of 4.142%, while the 15 year fixed rate alternative is at a rate of 3.500% with an APR of 3.751%.
The 7/1 ARM for refinance deals is now being offered for 2.625% with a starting APR of 3.035%, while the 5/1 ARM option can be taken for 2.500% with an APR of 2.969%.
With activity across the US in both refinance and new purchase applications in freefall, there is little way of knowing exactly what it will take to end the current market crisis that seems almost unstoppable.
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