What is a fixed-rate mortgage

Sep 3, 2024 ... The Maine Consumer Credit Code (Title 9-A M.R.S.) uses the term “conventional mortgage rate” (CMR) in the “Maine Truth in Lending Act” (9-A ... The average APR on a 15-year fixed-rate mortgage rose 4 basis points to 5.972% and the average APR for a 5-year adjustable-rate mortgage (ARM) rose 10 basis ... Mortgage rates again declined this week. In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of ... Our rates are based on the communities we serve and the specific branch where you open an account. Please enter your ZIP code so we can show you the most ... Adjustable rate mortgage (ARM). This calculator shows a "fully amortizing" ARM, which is the most common type of ARM. The monthly payment is calculated to pay ... Our local team of mortgage experts is here to help you every step of the way and get you settled in for less with affordable borrowing options. Feb 6, 2025 ... The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.98 percent of all loans ... Rates and fees may vary and are based on credit history, down payment, property type, and other factors associated with your loan application. Loans with less ... Oct 10, 2024 ... The rate modification will allow the borrower to take advantage of a new lower rate without having to go through the entire loan approval process again. Fixed-rate loan · 1 year. 9.65%. 6.09%. Open: 9.77% Closed: 6.21% · 2 years. ---. 5.74%. 5.81% · 3 years. ---. 6.29%. 6.34% · 4 years. ---. 6.19% see the promo.