The mortgage rates are valid as of Central Time and assume the borrower has excellent credit (740 credit score or higher). Your actual APR may differ depending on your credit history and loan characteristics. arm interest rates are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM and 7 years for a 7/1 ARM).
30 Mortgage Rates History Mortgage Rate Over Time · The interest rate is the amount of money the bank charges you for borrowing the money to pay for your home. The principal of the loan plus the interest rate determines your monthly mortgage.