Mortgage Rates January 11, 2010 on 30 Year fixed Rate Home Loans
Mortgage rates have been inching up slowly but steadily over ansthe past several weeks. Though mortgage rates are up, the increases have been mild and rates remain at relatively low levels.
The enclosed list of mortgage rates includes some of the largest mortgage lenders in the U.S. Among the list of mortgage lenders and mortgage rates are a number of 30 year term home loans with a rate of 5.25% and no points. Mortgage rates from the top lenders can be found lower on the list with added cost of paying points along with closing costs.
As mortgage rates have become slightly more volatile, the biggest change in mortgage rates has been the increase in the average amount of points and fees charged. The enclosed list searches among the top mortgage lenders and post the rates with the lowest points
30 year fixed rate mortgages with no points can be found at the following large mortgage lenders:
US Bank 30 year rate is 5.250 with 0.000 points and an APR of 5.317%
Phone number: 888-831-7524.
AimLoan.com 30 year has a rate of 5.250% with 0.000 points and an APR of 5.337%
Phone number: 888-411-4246.
Shelter Bank 30 year rate is 5.250 with 0.000 points and an APR of 5.810%
Phone number: 800-251-7115.
In addition to those rates a few large US mortgage lenders have rates that at 5.25% or lower with less than a one point origination fee.
Citibank 30 year fixed rate is 5.250% with 0.125 points with an APR of 5.443%
Phone number: 800-667-8424.
Chase Bank 30 year is at 5.250% with 0.250 points and an APR of 5.323%
Phone number: 800-873-6577.
Fifth Third Bank offers a slightly lower 30 year rate at 5.115% with 0.500 points and an APR of 5.272%
Phone number: 866-351-5353.
Mortgage rates are subject to change at anytime. Interest rates change regularly, based on fluctuations in the interest rate market.
In order to determine the borrower’s ability to repay the loan and adjust the mortgage rate to match any added risk on a particular borrower’s home loan, the mortgage lender will evaluate income and assets as well as debts and credit history.
Call the mortgage lender to obtain the most current home loan rates and obtain a written list of the estimated closing costs associated with your mortgage transaction to avoid any misunderstandings regarding the proposed transaction. A good faith estimate is required by federal law; it includes charges from the mortgage lender and third party charges, and approximate costs for property taxes and homeowner’s insurance.
Mortgage rates offered by the listed local mortgage lenders and banks are accurate of January 10, 2009. Rates may change and additional conditions will apply.
The above lenders all offer mortgage rate lock options with various conditions. Once a borrower locks in a mortgage rate the mortgage rate will not change regardless of what happens in the interest rate market as long as they close on the home loan on or before the rate lock expiration date.