A 3/1 adjustable rate mortgage (3/1 ARM) is an adjustable-rate mortgage (ARM) with an interest rate that is initially fixed for three years then adjusts each year. The "3" refers to the number.
30 Year Fixed Mortgage Rates Texas Citibank Mortgage Interest Rates · The latest data from Freddie Mac, released Thursday, showed that mortgage interest rates are on the rise again. According to Freddie Mac’s latest report, the 30-year fixed-rate mortgage.30 Year Fixed Mortgage Rate Explained 30 year fixed mortgage is probably the most popular fixed rate loan available. The monthly principal and interest payments of this type of loan never change during its life and the loan is "amortized" so that it will be completely paid off by the end of the loan term.
even as President Trump called for the Federal Reserve to take its target interest rates negative. The 30-year fixed-rate mortgage averaged 3.56% during the week ending Sept. 12, rising 7 basis points.