5/1 ARM Mortgage Rates in Minnesota
Updated: October 21, 2020
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Displaying rates for Mortgage Refinance in MN for $200,000
| PRODUCTS | RATES | +/- |
| 30 Year Fixed |
2.71%
|
|
| 15 Year Fixed |
2.56%
|
|
| 5/1 ARM |
4.56%
|
|
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Mortgage rates for Minnesota go down to 2.71%
Wednesday, October 21, 2020
Mortgage rates for Minnesota on Lender411 for 30-year fixed-rate mortgages are at 2.71%. That dropped from 3.00% to 2.71%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Minnesota is now at 4.56%.
5/1 ARM Mortgage Rate Explained
5/1 ARM is an adjustable rate mortgage where the interest rate on the loan and hence the payment of the loan stays the same during the first 5 years. After that the rate will change based on its "margin" and "index" . Above you will find 5/1 ARM refinance rates for national and local lenders in Minnesota.
Local Cities
Chanhassen | Duluth | Eden Prairie | Hadley | Mankato | Maple Grove | Minneapolis | Moorhead | Rochester | St. Cloud | St. Paul | White Bear Lake | Woodbury | Worthington
