Mortgage Rates from the top Bank Mortgage Lenders April 19, 2010
Mortgage rates on the 30 year fixed rate home loan from the top bank mortgage lenders was down measurably for the week ending April 16, 2010 based n the most recent survey of mortgage rates performed by Findlocalmortgagerates.com.
The average rate on the 30 year fixed rate was down by just over seven basis points or 7/100 of a percent bringing the average rate on the 30 year fixed rate home loan down to 5.125%. The average points charged on these mortgage loans was also lower, falling from an average of 0.60 points last week to 0.375 points for the most recent data.
The top bank mortgage lenders in survey, which included Chase Bank, Bank of America, Citibank, Wells Fargo Bank and US Bank, all dropped their mortgage rates over the past week.
Mortgage rates for a 30 year fixed rate home loan from the largest bank mortgage lenders in the survey included the following rates, points and APRs:
Chase Bank Mortgage is offering a 30 year at 5.250% and no points with a 5.307% APR.
Bank of America Home Loans markets a 30 year at 5.000% with 0.875 points resulting in a 5.119% APR.
Citibank’s 30 year is 5.250% with no points and a 5.421% APR.
Wells Fargo Home Loans is offering the 30 at 5.000% and 1.00 point for a 5.191% APR.
US Bank promotes their 30 year fixed at 5.1250% and no points with a 5.192% APR.
As with many bank rates, mortgage rates will have a tendency to closely follow Treasury rates. Treasury rates had begin to climb starting in March of this year but have given back much of the gain in April. Hence, mortgage rates also climbed in March and early April and now are giving back some of that gain and we are seeing mortgage rates come back down at least moderately.
The mortgage rates, points and APRs listed are subject to change. These mortgage rates are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed. All mortgage loans and mortgage rates will require bank approval.
The mortgage rates, points and APRs in the survey are for a home loan of between $200,000.00 and $275,000.00 on a single family owner occupied home with a minimum 20% down payment.
Additional mortgage rates and point options are available from these lenders for the 30 year fixed rate home loan; in addition, these lenders offer a variety of other loan terms and mortgage products.
The bank mortgage lenders listed can be reached at the following numbers to obtain additional home loan information and current mortgage rates:
Chase Bank 800-873-6577
Bank of America 800-551-7975
Citibank 800-667-8424
Wells Fargo 877-937-9357
US Bank 888-831-7524