Mortgage Rates Today, Friday, July 1: Maintaining 3-year Lows

Thirty-year mortgage rates once again have reversed course and are now touching new 3-year lows, according to the NerdWallet Mortgage Rate Index.

Meanwhile, 15-year fixed rate loans and 5/1 ARMs show little repricing among lenders.

The NerdWallet Mortgage Rate Index compiles annual percentage rates — lender interest rates plus fees — the most accurate way for consumers to compare rates. Here are Wednesday’s average rates for the most popular loan terms:

Purchase Mortgage Rates: July 1, 2016

(Change from 6/30)

30-year fixed: 3.61% APR (-0.02)

15-year fixed: 3.04% APR (NC)

5/1 ARM: 3.33% APR (NC)

Compare mortgage rates

Refinance Mortgage Rates: July 1, 2016

(Change from 6/30)

30-year fixed: 3.71% APR (NC)

15-year fixed: 3.04% APR (NC)

5/1 ARM: 3.35% APR (NC)

Homeowners looking to lower their mortgage rate can shop refinance lenders here.

Wells Fargo, Chase and BOA mortgage rates

Three major components of the NerdWallet Mortgage Rate Index are leading lenders Wells Fargo, Chase and Bank of America. Their current purchase mortgage rates are:

Bank Mortgage Rates 7/1

	30-year fixed	15-year fixed	5/1 ARM
Wells Fargo	3.68% APR	3.07% APR	3.41% APR
Chase	3.44% APR	2.88% APR	3.32% APR
Bank of America	3.67% APR	N/A	3.27% APR

NerdWallet daily mortgage rates are an average of the lowest published APR for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

More from NerdWallet:
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Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick.