Bank Mortgage Lender Rates August 22, 2011
Mortgage rates form the nation’s top five bank mortgage lenders nudged higher for the week ending August 19, 2011. Investors continued to increase their purchases of U.S. Treasury bonds as government debt problems have not yet abated and quite frankly, do not look like there will be a lastly resolution anytime soon. The fluctuations in mortgage rates this week were very modest. Rate changes from the 30 year fixed rate mortgage to FHA mortgages moved by less than five basis points or 5/100’s of a percent from the prior week.
This week’s change in mortgage bond prices shifted the average 30 year mortgage rate up five basis points. The weekly mortgage rate survey conducted by Findlocalmortgagerates.com indicated that the average rate from the top five bank mortgage lenders climbed to 4.400 percent 4.350 percent in the week earlier.
The average rate on the 15 year fixed rate mortgage also climbed higher by five basis points. The 15 year mortgage rate ended the week at3.550 percent, up from last week’s average rate of 3.500 percent.
20 year mortgage rate changes made it a triple play, as the rate on these home loans also rose by five basis points. The average rate for 20 year mortgage came in at 4.150 percent; the previous week’s average rate was 4.100 percent.
FHA mortgages with a 30 year term remained unaltered, holding to the same rate seen in the prior week. The average 30 FHA mortgage rate remained at 4.175 percent.
The current mortgage rates offered by the top five bank mortgage lenders in the survey includes the following mortgage interest rates, points charged and resulting APRs as of August 19, 2011:
Chase mortgage rates increased rather substantially this week, relative to the movement in the average rates. The Chase 30 year mortgage rate ended the week at 4.875% with 0.0 points and an APR of 4.940% and the Chase 15 year mortgage rate was 4.250% with 0.0 points and an APR of 4.361%.
Bank of America mortgage rates were little changed with the 30 year holding at 4.250% with 0.875 points and a 4.402% APR and the 15 year rate sticking at 3.375% and 0.875 points for an APR of 3.639%.
Citibank mortgage rates slipped lower for the week with a 30 year now at 4.375% and 0.0 points for an APR of 4.438% and the 15 year mortgage rate at 3.500% with 0.375 points and a 3.663% APR.
Wells Fargo mortgage rates also shifted lower with a Wells Mortgage 30 year loan rate at 4.125% with 1.0 point and a 4.277% APR and the 15 year mortgage rate at 3.125% with 1.0 point and a 3.388% APR.
US Bank mortgage rate followed those rate reductions with rate increases of .125% on both the 30 year and 15 year home loan. The 30 year from US Bank is now available at 4.375% with no points and a 4.439% APR while the 15 year mortgage rate closed the week at 3.500% with zero points and an APR of 3.609%.
The mortgage interest rates, loan points and mortgage loan APRs in the Findlocalmortgagerates.com survey are retrieved directly from the bank mortgage lenders on or after August 19th, 2011. The bank mortgage rates and terms are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
All of the bank mortgage rates listed are subject to change by the bank mortgage lenders, all home loans are subject to the approval and underwriting standards established by each of the mortgage lenders.
The mortgage rates and mortgage costs in the survey are based on a mortgage loan request for a single family purchase based in California with a loan amount of $250,000.00 and a 20% down payment on or after August 19th, 2011.
Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Maryland, mortgage loans and mortgage rates in Missouri, mortgage loans and mortgage rates in New Jersey, mortgage loans and mortgage rates in Oregon and similar regional home loans and mortgage rates.