The increase in mortgage rates was the reaction to a slew a positive developments observed by the investment community.  Europe has finalized a package to bailout part of Greece’s overhanging debt for one.  The Federal Reserve released a slightly more upbeat FOMC Announcement.  And monthly Retail Sales figures came out slightly stronger than expected in addition to being revised higher for the previous month, making a trifecta of good news for the market. 

For economists and investors, this news for the week was generally upbeat, and good economic news maybe good for stocks but is not good for bonds.  The lack of uncertainty and expanding economic data often means greater demand for loans and higher levels of inflation which leads to higher interest rates and mortgage rates. 

The average 30 year fixed rate mortgage in the weekly bank mortgage rate survey shot up by 12.5 basis points or 0.125 percent to 4.275 percent.  The average 15 year mortgage rate increased by 10.0 basis points to a rate of 3.525 percent.  FHA mortgage rates which had not fallen as much in the downward trend of mortgage rates seen in the past few weeks moved up by just five basis points to an average rate of 3.950 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of March 16, 2012:

The fifth largest bank mortgage lender, US Bank, increased their 30 year mortgage to 4.500% with zero points and a 4.564% APR.

The largest bank in the US, Chase Bank, moved their 30 year mortgage rate up by 0.25% to a rate of 4.25% now with no points and an APR at 4.313%. 

Bank of America kept the 30 year mortgage rate almost unchanged from the previous week with an interest rate of 4.125% and 0.75 points and an APR of 4.261%.

Wells Fargo’s 30 year mortgage rate became more costly by 0.125% pushing the rate up to 4.00% with 1.0 point and a 4.151% APR.

Citibank offers the 30 year mortgage with the same interest rate as the previous week but with a slightly higher number of points, 4.500% with 0.25 points and an APR at 4.587%.

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 March 16, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 March 16, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Louisiana, mortgage loans and mortgage rates in Missouri, mortgage loans and mortgage rates in Ohio, mortgage loans and mortgage rates in New Jersey and similar regional home loans and mortgage rates.

While the lingering debt effects in Europe and weak economic data had been keeping a lid on mortgage rates, recent changes to these market moving forces has driven interest rates in the opposite direction.  Europe seems to be making progress on the over indebted nations of the Euro zone combined and mildly improving economic readings in the U.S manufacturing and retail sectors has provided a positive atmosphere that is propping up investor sentiment.  Good economic news leads to higher interest rates and borrowing costs and ultimately higher mortgage rates.

The current bank mortgage rate survey conducted by Findlocalmortgagerates.com indicated that the average 30 year fixed rate mortgage was bumped up 2.5 basis points to 4.150 percent.  One basis point is equal to 1/100ths of a percent.  The 15 year term mortgage was higher by 5.0 basis points to 3.425 percent.  FHA mortgage rates remained firm with the average rate holding at 3.900 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of March 9, 2012:

A Citibank 30 year fixed rate mortgage is available at 4.500% with 0.0 points and an APR at 4.566%.

Bank of America offers a 30 year mortgage with an interest rate of 4.125% with 0.875 points and an APR of 4.265%.

The Wells Fargo mortgage rate for a 30 year term loan is 3.875% with 1.0 point and a 4.025% APR.

Chase Bank increased their points for the 30 year home loan but kept the interest rate unchanged at 4.00% now  with 0.375 points and 4.094% APR. 

US Bank had no change to their 30 year mortgage, holding the 30 year mortgage rate at 4.250% with zero points and an APR of 4.313%.

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 March 9, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 March 9, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Colorado, mortgage loans and mortgage rates in Alabama, mortgage loans and mortgage rates in New York, mortgage loans and mortgage rates in Nevada and similar regional home loans and mortgage rates.

Interest rates had been moved modestly higher on some clarity on European debt issues as well positive economic news.  Not necessarily good employment news, but better than expected earnings, stronger investor confidence and some positive housing data.  Despite these data points that would generally push rates higher, concerns over European ruled the week and talks of debt problems in Greece pushed funds into U.S fixed income funds like mortgage bonds and brought mortgage rates down once again.

The current survey of the top five bank mortgage lenders conducted by Findlocalmortgagerates.com conducted on March 2, 2012, showed all five lenders dropping their rates over the week.  The average 30 year fixed rate mortgage was lower by five basis points or 5/100ths of a percent.  The average 15 year term mortgage was down by 7.5 basis points and the 30 year FHA mortgage rate was cheaper by 2.5 basis points.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of March 2, 2012:

US Bank’s 30 year mortgage rate was the big mover of the week dropping down to 4.250% with zero points and an APR of 4.313%.

Bank of America reduced the costs on their 30 year mortgage to 4.125% with 0.875 points and an APR of 4.258%.

The 30 year loan at Wells Fargo remained at 3.875% with 1.0 point and a 4.025% APR.

Citibank’s 30 year mortgage rate was also held in check at 4.375% with 0.375 points and an APR at 4.483%.

Chase Bank offers the 30 year fixed rate home loan with an interest rate of 4.00% with 0.0 points and 4.062% APR. 

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 March 2, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 March 2, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Tennessee, mortgage loans and mortgage rates in Kentucky, mortgage loans and mortgage rates in Louisiana, mortgage loans and mortgage rates in Connecticut and similar regional home loans and mortgage rates.

Based on the most recent survey of the top bank mortgage lenders performed by Findlocalmortgagerates.com conducted on February 24, 2012, the 30 year mortgage rates available from the nation’s top five mortgage lenders were lower while the 15 year and the 30 year FHA rates held steady.

The average 30 year mortgage rate slumped down by five basis points or 5/100th’s of a percent for the week.  The rate reduction put the average 30 year mortgage at 4.175 percent.  The 15 year fixed rate mortgage average interest rate held at 3.450 percent and the 30 year FHA mortgage rate remained at 3.925 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of February 24, 2012:

Chase Bank mortgage rates were unchanged at 4.00% with 0.0 points and 4.062% APR. 

The Bank of America 30 year mortgage rate slipped modestly to 4.125% with 1.125 points and an APR of 4.303%.

Citibank’s 30 year mortgage rate moved down to 4.375% with 0.375 points and an APR at 4.472%.

The US Bank 30 year mortgage remained at 4.500% with zero points and an APR of 4.564%.

A Wells Fargo 30 year mortgage has an interest rate of 3.875% with 1.0 point and a 4.025% APR.

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 February 24, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 February 24, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Missouri, mortgage loans and mortgage rates in Oregon, mortgage loans and mortgage rates in Texas, mortgage loans and mortgage rates in Alabama and similar regional home loans and mortgage rates.

Based on the most recent survey of the top bank mortgage lenders performed by Findlocalmortgagerates.com, of the three most popular loan products in the survey only one displayed a change in the average interest rate offered.  The average interest rate offered by the top five bank mortgage lenders in the survey was unchanged on the 30 year fixed rate loan and the 30 year FHA loan while the 15 year mortgage loan experienced a minor cut in the average interest rate. 

The average 30 year mortgage rate remained at 4.225 percent this week.  The average 15 year mortgages rate was cut back by 2.5 basis points.  One basis point being equivalent to 1/100th of a percent.  The rate reduction brought the 15 year fixed rate mortgage to 3.450 percent from 3.475 percent in the prior week.  The 30 year FHA mortgage followed the conforming 30 year rate and was unchanged from the previous week with an interest rate of 3.925 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of February 17, 2012:

Chase Bank mortgage rates slipped slightly on the 30 year term loan to 4.00% with 0.125 points and 4.073% APR. 

The Citibank 30 year mortgage rate increased to 4.500% with 0.0 points and an APR at 4.566%.

Wells Fargo’s 30 year mortgage rate dipped to 3.875% with 1.0 point and a 4.025% APR.

Bank of America promotes the 30 year fixed rate mortgage at 4.250% with 1.0 points and an APR of 4.412%.

The US Bank 30 year mortgage rate held steady at 4.500% with zero points and an APR of 4.564%.

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 February 17, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 February 17, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Alabama, mortgage loans and mortgage rates in Oklahoma, mortgage loans and mortgage rates in Ohio, mortgage loans and mortgage rates in South Carolina and similar regional home loans and mortgage rates.

The up and down swings in mortgage rates has occurred almost every week this year with no discernible trend developing regarding the long term direction of mortgage interest rates.  Mortgage rates are very susceptible to headline economic news that has been spewing out at a rapid clip.  The debt deals in Europe are probably the biggest drivers for mortgage bond prices and mortgage rates.  It has been announced that Greece was very close to finalizing the terms of their most recent bail out deal but news on these events continue to run hit and cold. 

The end result of the streaming economic news is quick reactions in the bond market with interest rates for real estate financing advances one week and then retreating the next.

The average 30 year mortgage rate in the weekly rate survey advanced by 12.5 basis points, each basis point being equal to 1/100th of a percent.  Based on the survey results, the top five bank mortgage lenders in the nation are delivering an average 30 year fixed rate loan at 4.225 percent, up from 4.100 percent in the previous week.

The average 15 year mortgages rate increased by 15 basis points.  The rate increase brought the average 15 year rate up to 3.475 percent from 3.325 percent in the week earlier.

FHA mortgages with a 30 year term were just slightly more expensive over the course of the week.  The average FHA home loan rate moved higher by 5 basis points.  The interest rate on FHA mortgage loans closed the week at 3.925 percent after reaching 3.875 percent in the prior weekly survey.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of February 10, 2012:

Wells Fargo 30 year fixed rate mortgage came in at 4.000% with 1.0 point and an APR of 4.151%.

Chase Bank’s 30 year mortgage rate moved up to 4.125% with 0.125 points and an APR at 4.198%. 

Bank of America’s mortgage rate for the 30 year fixed rate loan is 4.125% with 1.125 points and a 4.289% APR.

Citibank’s mortgage rate on a 30 year is 4.375% with 0.500 points and a 4.481% APR.

US Bank has the 30 year mortgage at 4.500% with zero points and an APR of 4.564%.

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 February 10, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 February 10, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Alabama, mortgage loans and mortgage rates in Oklahoma, mortgage loans and mortgage rates in Ohio, mortgage loans and mortgage rates in South Carolina and similar regional home loans and mortgage rates.

For the week ending January 27, 2012 low rates returned and erased most of the increase in costs that occurred in the prior week.  The drop in rates put the 30 year mortgage rate at just a touch over 4.00 percent.   The FOMC announcement (Federal Open Market Committee) at mid week appears to be the force pushing mortgage interest rates lower.  The Fed announced that the Fed Funds rate will not be kept at exceptionally low levels but the Fed announced a date that called for that extended time period to run up to late 2014.  The announcement surprised the bond market causes prices to rally and bond interest rates to move lower.  For the three days mortgage bond prices moved higher and mortgage interest rate headed lower.

30 year mortgage rates from the top five bank mortgage lenders in the survey retreated by 12.5 basis points with one basis point equal to 1/100th of a percent.  The average 30 year fixed rate loan came with an interest rate of 4.050 percent which compares to the previous week rate of 4.175 percent.

15 year mortgages rates plunged 20 basis points this week.  The average 15 year mortgage rate from the banks in the survey came in at 3.200 percent well off last week’s average 15 year rate of 3.400 percent.

The 30 year FHA mortgage rate showed the smallest rate drop, falling by 7.5 basis points.  The average 30 year FHA mortgage rate slid to 3.875 percent off of the prior week’s average FHA rate of 3.950 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of January 27, 2012:

Bank of America offers the 30 year fixed rate mortgage at 4.125% with 1.0 point and a 4.294% APR.

The Chase Bank 30 year mortgage rate is 4.000% with 0.0 points and a 4.062% APR. 

Citibank has the 30 year mortgage rate at 4.250% with 0.125 points and a 4.324 % APR.

Wells Fargo markets a 30 year fixed rate home loan with an interest rate of 4.000% with 1.0 point and an at 4.151%.

US Bank offers a 30 year fixed rate mortgage with an interest rate of 3.875% with zero points and an APR of 3.937%.

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 January 27, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 January 27, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Texas, mortgage loans and mortgage rates in Georgia, mortgage loans and mortgage rates in Indiana, mortgage loans and mortgage rates in Utah and similar regional home loans and mortgage rates.

Based on data in the weekly bank mortgage rate survey conducted by Findlocalmortggaerates.com, all of the most popular home loan financing options were cheaper at the end of week.

The average 30 year mortgage rate in the survey dipped lower by 6.5 basis points.  One basis point is equal to 1/100th of a percent.  The average interest rate offered a 30 year mortgage ended at 4.000 percent after making opening the week with a rate of 4.065 percent.

The 15 year mortgages were a little more volatile and shed 7.5 basis points off the average rate offered by the bank mortgage lenders in the survey.  The average 15 year mortgage rate in this week’ survey came in at 3.300 percent compared to 3.375 percent in the previous week.

FHA mortgage rates with a 30 year term were fairly subdued over the wee.  The average FHA mortgage loan was cheaper by just 2.5 basis points week over week.  The average 30 year FHA mortgage rate slipped down to 3.925 percent from an average rate of 3.950 percent found in the prior week’s mortgage rate survey.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of January 13, 2012:

Wells Fargo mortgage rates for a 30 year loan ended the week at 3.875% with 1.0 point and a 4.025% APR.

Chase mortgage rates for the 30 year mortgage has an interest rate of 4.125% with 0.125 points and a 4.198% APR. 

US Bank offers a 30 year fixed rate mortgage with an interest rate of 3.875% with zero points and an APR of 3.937%.

Bank of America’s interest rate for the 30 year home loan is 4.000% with 1.125 points with an APR of 4.165% APR.

Citibank promotes a 30 year term mortgage loan at 4.125% with 0.375 points and a 4.219 % APR.

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 January 13, 2012.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 January 13, 2012. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in West Virginia, mortgage loans and mortgage rates in Arkansas, mortgage loans and mortgage rates in Rhode Island, mortgage loans and mortgage rates in Connecticut and similar regional home loans and mortgage rates.

Mortgage bond trading volume, on which bank mortgage rates are based, remained very light due to the holiday shortened trading sessions.  In addition to low volume due to the holidays, economic data and market news was very light as well further capping mortgage bond trading activity.  Low volume in bond trading often exaggerates the movements in prices as fewer traders with big sales or purchases can make big impact on the price of the bonds and hence the interest rates on which they are based.  

In the current mortgage rates survey, the average 30 year mortgage rate moved below 4.00 percent.  30 year mortgage rates showed a drop of 17 basis points on the week.  One basis point is equal to 1/100th of a percent.  The average rate on a 30 year mortgage loan from the nation’s top five bank mortgage lenders came in at 3.950 percent.  The 30 year rate sat at 4.125 percent in the prior week’s rate survey.

FHA home loans started the already under 4.00 percent but the top bank mortgage lenders still managed to squeeze out a reduction in the average interest rate offered.  The average rate promoted on a 30 year fixed rate FHA mortgage was cheaper by five basis points.  The 30 year FHA mortgage rate this week slipped to 3.925 percent from 3.975 percent in the previous week.

The 15 year rate took the middle ground between the rate reductions in the 30 year fixed and 30 year FHA loan by falling 7.5 basis points this week.  The average 15 year home loan had an interest rate of 3.275 percent, down from last week’s average loan rate of 3.350 percent.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of December 30, 2011:

The nation’s biggest bank, Chase Bank, has the 30 year mortgage rate at 3.875% and 0.500 points for an APR of 3.978%. 

The number two bank mortgage lender, Bank of America, has the 30 year mortgage rate at 4.000% with 0.875 points with a 4.160% APR.

Wells Fargo dropped their rates significantly during the prior week and has left that rate alone this week with the 30 year mortgage rate form Wells sitting at 3.875% with 1.0 point and a 4.025% APR.

US Bank mortgage rate for the 30 year loan dipped to 3.875% with zero points and an APR of 3.937%.

Citibank made a minor cut in their 30 year term home loan with the interest rate being cut to 4.125% with 0.250 points and an APR of 4.209%.

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 December 30, 2011.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 December 30, 2011. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Illinois, mortgage loans and mortgage rates in Louisiana, mortgage loans and mortgage rates in Maine, mortgage loans and mortgage rates in New York and similar regional home loans and mortgage rates.

The enduring concerns about European debt, a slow U.S economy and Fed intervention keeping short term rates slightly above zero percent has been working to keep a lid on mortgage rates with the slightest negative news pushing rates even lower.

Base on the most recent mortgage rate survey of bank mortgage rates conducted by Findlocalmortgagerates.com, the average 30 year mortgage rate from the top five bank mortgage lenders was cut back by just 2.5 basis points.  One basis point is equal to 1/100th of a percent.  30 year mortgage rates are now sitting at 4.050 percent after slipping to 4.075 percent in the week earlier.

The 15 year term mortgages also dropped down by 2.5 basis points.  The average 15 year mortgage rate in the most current survey is 3.325 percent, just slightly off of last week’s average rate of 3.350 percent.

The average interest rate on the FHA home loan managed to make it three in a row and dropped lower by 2.5 basis points as well.  The average FHA mortgage rate slumped to 3.925 percent from 3.950 percent in the week earlier rate survey.

Mortgage rates offered by the top five bank mortgage lenders in the weekly survey includes the following 30 year mortgage interest rates, points charged and resulting APRs as of December 16, 2011:

Chase Bank mortgage rate for a 30 year term loan dipped to 4.125% and 0.375 points and an APR at 4.219% APR. 

Wells Fargo mortgage rate on a 30 year term home loan moved down by .25 percent to an interest rate of 3.875% with 1.0 point and a 4.025% APR.

Citibank mortgage rates were unchanged this week with the 30 year mortgage rate remaining at 4.250% with 0.125 points and a 4.324%.

Bank of America mortgage rates also remained in check with the B of A 30 year mortgage rate holding at 4.000% with 1.0 point with an APR of 4.158%.

US Bank reduced their 30 year mortgage rate to 4.00%, a .125% rate reduction, with zero points and an APR of 4.062%.

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 December 16, 2011.  All of the bank mortgage rates listed are subject to change at any time.  All home loans are subject to the approval and underwriting standards established by each of the individual 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 December 16, 2011. 

Additional mortgage interest rates and home loan products are available from the listed bank mortgage lenders including mortgage rates in Illinois, mortgage loans and mortgage rates in Louisiana, mortgage loans and mortgage rates in Maine, mortgage loans and mortgage rates in New York and similar regional home loans and mortgage rates.