Bank Mortgage Rates September 7th, 2010
rWhen shopping for the best mortgage rate, consumers should look at the average national mortgage rate and compare that mortgage rate with several mortgage lenders before applying for a new home loan. The Findlocalmortgagerates.com weekly bank mortgage lenders rate survey provides the average rate for the top five bank mortgage lenders as well as the individual mortgage rates from these lenders to make rate shopping for home loan less of a burden.
This week, the average 30 year fixed rate mortgage moved up for the first time in several days while the 15 year remained unaltered. The average 30 year fixed mortgage rate ended the week, September 3rd, with an interest rate of 4.70%. The average 15 year mortgage rate closed out at 4.15%.
The average pints charged to obtain these loan rates was higher for both loan programs. The average points charged by the top five bank mortgage lenders for those rates came in at .475 points on the 30 year and .50 points for the 15 year.
The Findlocalmortgagerates.com survey results from the top five bank mortgage lenders for the week ending September 3rd included the following 15 year and 30 year mortgage rates, points and APRs:
Wells Mortgage rates moved higher for the 30 year and held steady on the 15 year with the 30 year mortgage rate at 4.375% with 1.0 point and a 4.530% APR and the 15 year mortgage rate at 3.75% rate with 1.0 point and a 4.017% APR.
Chase Mortgage rates were also higher on the 30 year term loan and unmoved for the 15 with a 30 at 4.875% with no points and a 4.931% APR and a rate of 4.50% with no points for a 4.596% APR on the 15 year loan.
Bank of America mortgage rates were little changed, the 30 year mortgage rate is 4.875% with 0.875 points for a 4.990% APR and the 15 year mortgage rate is 4.25% with 1.25 points for a 4.507% APR.
Citibank mortgage rates bucked the trend and moved marginally lower, the 30 year at Citi was 4.75% with 0.50 points and a 4.972% APR while the 15 year mortgage rate was 4.25% with 0.25 points and a 4.553% APR.
US Bank mortgage rates were higher for both terms, the US Bank 30 year mortgage rate is 4.625% with no points and a 4.69% APR and the US Bank 15 year mortgage rate is 4.00% with no points and a 4.11% APR.
Mortgage rates are affected by a number of factors for any particular loan request. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on the credit, income, assets, geographic location and property of a particular loan.
Mortgage rates are current as of this publication date but all mortgage rates are subject to change and require bank approval.
The mortgage rates surveyed are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Findlocalmortgagerates.com publishes the bank mortgage rate survey to allow potential home loan borrowers the ability to quickly and easily research mortgage interest rates from multiple bank mortgage lenders throughout the country.
More information on the mortgage loans and mortgage rates listed can be obtained by contacting the bank mortgage lenders directly:
Chase Bank 800-873-6577
Bank of America 888-233-4124
Citibank 800-667-8424
Wells Fargo 877-937-9357
US Bank 888-831-7524