Mortgage interest rates have moved downward again on Thursday, October 16. Toronto Dominion Bank offers the benchmark 30-year fixed rate mortgage at an interest rate of 3.625% with a 3.687% APR. The popular 30-year FHA loan is advertised at 3.500% today with an APR of 4.588%. Buyers can lock into a shorter-term 15-year fixed loan at 2.875% today with an APR of 2.985%.
For buyers who want the ultimate in flexibility with the lowest mortgage rate, TD Bank advertises the 1/1 ARM at 1.875% for the first twelve months with an APR of 2.743% to start. The more conventional 5/1 adjustable rate mortgage is quoted at 2.875% for the first five years with a 2.852% APR to start. A 7/1 ARM is published at 3.000% for seven years with an APR of 2.924%. For more predictability and a longer rate lock period, buyers can lock into a 10/1 ARM at 3.125% for the first ten years with an APR of 3.036%. A 15/1 ARM is quoted at 3.375% for the first fifteen years with an APR of 3.307% to start.
TD Bank Refinance Rates
TD Bank offers competitive refinance interest rates today. Homeowners can refinance with cash out with a 30-year fixed refi loan for just 3.563% today, which is lower than the purchase rate, with a corresponding APR of 3.625%. A 15-year refi loan is advertised at 2.813% with an APR of 2.922%. An FHA refi is quoted at 3.500% today with a corresponding 4.588% APR.
Homeowners who want a lower rate can turn to a 5/1 ARM refi at 2.813% for the first five years with an APR of 2.831%. A 7/1 adjustable rate refinance is advertised at 2.937% for the first seven years with an APR of 2.894% to start. The more stable 10/1 ARM refinance is quoted at 3.063% for the first ten years with an APR of 2.998%.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.