Top Bank Mortgage Rates October 25th, 2010
Mortgage rates moved lower for the week ending October 22, 2010. In response to a rise in bond prices and the corresponding drop in bond rates, most of the major bank mortgage lenders lowered their residential mortgage rates.
Mortgage rates from the top five bank mortgage lenders were lower by over five basis points or 5/100 of a percent for the both the 30 year fixed rate home loan and 15 year mortgage loan.
The average 30 year mortgage rate from the top five bank mortgage lenders surveyed by Findlocalmortgagerates.com mortgage closed the week at 4.35 percent, down from the prior week’s average loan rate of 4.425 percent.
The average 15 year mortgage rate from the top five lenders closed at 3.75 percent, off from the previous week’s average rate of 3.825 percent.
The points charged on both the 15 year and 30 year mortgage closed higher for the week. The average points charged from the banks in this week’s survey came in at .475 points for the 30 year loan and .50 points for the 15 year home loan.
The current mortgage rates tracked by Findlocalmortgagerates.com from the top five bank mortgage lenders for the week ending October 22nd included the following 15 year and 30 year mortgage rates, points and APR’s:
Wells Mortgage rates moved lower for both the 30 year mortgage and 15 year. The Wells 30 year mortgage rate closed at 4.0% with 1.0 point and a 4.15% APR and the 15 year mortgage rate ended at 3.25% with 1.0 point and a 3.514% APR.
Chase Mortgage rates were mostly unchanged with the 30 year mortgage dipping to 4.50% and the points charged rising to 0.375 points for a 4.587% APR and the 15 year coming in at 4.00% with no points and 4.095% APR.
Bank of America mortgage rates moved lower for both terms. The Bank of America 30 year mortgage rate was 4.25% with 1.0 point and a 4.392% APR while the Bank of America 15 year mortgage rate was 3.625% with 1.0 point and a 3.911% APR.
US Bank mortgage rates were unchanged with the 30 year loan rate at 4.375% and no points for a 4.439% APR and the 15 year rate holding at 3.75% with no points and an APR of 3.860%.
Citibank mortgage rates were also unchanged with the 30 year mortgage rate remaining at 4.625% with zero points for a 4.757% APR and the 15 year mortgage rate coming in at 4.125% and 0.25 points for an APR of 4.427%.
The mortgage rates and points listed from the top five bank mortgage lenders are current as of the survey date, October 22nd, 2010. Information provided on the bank mortgage rates are believed to be accurate and reliable when placed on this site, but we cannot guarantee it is accurate or complete or current at all times. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey 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 some of the nation’s largest bank mortgage lenders.
More information on the mortgage loans and mortgage interest 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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on these conditions and more.
Additional mortgage rates from these lenders can be found by contacting the bank mortgage lender directly. Mortgage rates available include: mortgage rates in Illinois, mortgage rates in Texas, mortgage rates in New York, mortgage rates in Florida, mortgage rates in Pennsylvania, mortgage rates in Ohio, mortgage rates in Michigan, mortgage rates in Georgia, mortgage rates in North Carolina and more.
Bank Mortgage Rates October 18th, 2010
Mortgage rates from the largest bank mortgage lenders moved higher for the week ending October 15th. This is the first measurable mortgage rate increase in several weeks. Both, the 30 year fixed rate loan and 15 year fixed rate mortgage loan rates increased substantially during the week.
The average 30 year mortgage rate from the top five bank mortgage lenders surveyed by Findlocalmortgagerates.com mortgage closed the week with a rate of 4.425 percent. The average points charged on the 30 year term loan fortunately, moved lower to an average of 0.375 points. The average 15 year mortgage rate in the survey moved up to 3.825 percent while the average points charged increased to 0.425 points.
The mortgage rates survey results from the top five bank mortgage lenders for the week ending October 15th included the following 15 year and 30 year mortgage rates, points and APR’s:
Wells Mortgage rates on a 30 year mortgage moved up to 4.125% with 1.0 point and a 4.277% APR and the 15 year mortgage rate remained unchanged at 3.375% with 1.0 point and a 3.639% APR.
Chase Mortgage rates on a 30 year mortgage jumped to 4.625% and 0.125 points for a 4.691% APR while the 15 year mortgage rate was just modestly higher at 4.00% with 0.125 points and 4.113% APR.
US Bank mortgage rates were up modestly with the 30 year loan having a rate of 4.375% and no points for a 4.439% APR and the 15 year rate going up to 3.875% with no points and an APR of 3.985%.
Citibank mortgage rates pushed up on the 30 year to 4.625% with 0.125 points for a 4.779% APR and the Citibank 15 year loan was boosted up to 4.125% and no points resulting an APR of 4.352%.
Bank of America mortgage rates increased by .25% on both the 30 year and 15 year loan with the 30 year mortgage rate going to 4.375% with 0.625 points and a 4.477% APR and the 15 year rate coming in at 3.75% with 1.0 point and a 3.986% APR.
The mortgage rates and points listed from the top five bank mortgage lenders are current as of the survey date, October 8nd, 2010. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey 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 some of the nation’s largest bank mortgage lenders.
More information on the mortgage loans and mortgage interest 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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on these conditions and more.
Additional mortgage rates from these lenders can be found by contacting the bank mortgage lender directly. Mortgage rates available include: mortgage rates in Illinois, mortgage rates in Texas, mortgage rates in New York, mortgage rates in Florida, mortgage rates in Pennsylvania, mortgage rates in Ohio, mortgage rates in Michigan, mortgage rates in Georgia, mortgage rates in North Carolina and more.
Top Bank Mortgage Rates October 4th, 2010
Mortgage rates continued the long term down trend and closed lower for the week ending October 2nd, 2010. Mid and long term Treasury rates were also noticeably lower on the week as were bank savings rates. Current mortgage rates for both the 30 year mortgage rate and 15 year mortgage rate moved substantially lower week over week.
The average 30 year fixed rate mortgage dropped by a rather large amount considering the already low rates that have been reached. Based on the most recent Findlocalmortgagerates.com weekly survey of bank mortgage rates, the average 30 year rate mortgage was down ten basis points or 10/100’s of a percent, to 4.425 percent.
The average 15 year fixed rate mortgage was lower by and an even wider margin than the 30 year term loan, tumbling eleven basis points to 3.80 percent.
The average points charged by the bank mortgage lenders in the survey increased on the week. The average points charged to obtain the rate on the 30 year home loan came in at .525 points as did the average points charged for the 15 year mortgage.
The mortgage rates survey results from the top five bank mortgage lenders for the week ending October 4th included the following 15 year and 30 year mortgage rates:
US Bank mortgage rates for the 30 year loan and 15 year loan ended the week at 4.50% with no points and a 4.564% APR on the 30 and 3.875% with no points and a 3.985% APR on the 15 year mortgage.
Chase Mortgage rates for the 30 year home loan was 4.625% and 0.25 points with a 4.702% APR while the 15 year loan closed at 4.00% with 0.25 points and 4.132% APR.
Wells Mortgage rates for the 30 and 15 year mortgage came in at 4.125% with 1.0 point and a 4.277% APR and 3.375% with 1.0 point and a 3.639% APR, respectively.
Bank of America mortgage rates for the 30 year loan was 4.125% with 1.125 points and a 4.286% APR and 3.625% with 1.125 points and a 3.906% APR for the 15 year mortgage rate.
Citibank mortgage rates came in at 4.75% with 0.25 points and a 4.928% APR on a 30 year mortgage loan and 4.125% with 0.25 points for a 4.427% APR on the 15 year mortgage loan.
The mortgage rates and points listed are current as of the survey date, October 2nd, all mortgage rates and costs are subject to change and all home loans will 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 some of the nation’s largest bank mortgage lenders.
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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on the conditions and more.
Mortgage Rates September 20th, 2010
Mortgage interest rates fell measurably last week, coming near the all time lows reached earlier in the summer. The most recent survey of bank mortgage rates performed by Findlocalmortgagerates.com shows both the 15 year and 30 year mortgage rates down measurably for the week ending September 17, 2010.
The average 30 year mortgage rate in the survey had an interest rate of 4.575 percent with 0.40 points. The average 15 year mortgage rate in the survey had an interest rate of 4.05 percent with 0.475 points.
Recent economic data has created a mixed picture on the economic recovery with a bias towards an extremely weak economic outlook. The mixed data points have caused mortgage rates to fluctuate more in recent weeks as investors have dipped in out of the bond market cause rates to move up and down with the flow of funds.
The Findlocalmortgagerates.com survey results from the top five bank mortgage lenders for the week ending September 17th included the following 15 year and 30 year mortgage rates:
Bank of America mortgage rates for the 30 year mortgage and 15 year mortgage came in at 4.375% with 0.75 points and a 4.492% APR for the 30 and 3.75% with 1.125 points and a 4.011% APR for the 15 year mortgage.
Wells Mortgage rates were 4.25% with 1.0 point and a 4.403% APR on the 30 year and 3.75% rate with 1.0 point and a 4.017% APR on the 15 year mortgage loan.
Chase Mortgage rates for the 30 year was 4.75% with 0.125 points and a 4.816% APR while the 15 year term loan was 4.375% with zero points for a 4.471% APR.
US Bank mortgage rates on the 30 year mortgage closed at 4.625% with no points and a 4.690% APR and 4.125% with no points and a 4.236% APR for 15 year mortgage rate.
Citibank mortgage rates were 4.875% with 0.125 points and a 5.031% APR on a 30 year home loan and 4.25% with 0.25 points for a 4.553% APR on the 15 year home loan.
Mortgage rates and pints listed are current as of the survey date, September 17, but all mortgage rates are subject to change and all loans and rates will 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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on the conditions and more.
Today’s Mortgage Rates August 18, 2010
Review today’s current mortgage interest rates from a variety of bank mortgage lenders. The current national average 30 year mortgage rate now stands at 4.669 percent; this is a slight increase from the average rates on Friday, August 13 which ended at 4.619%. The average origination and discount point charged by the bank mortgage lenders to obtain the rate fell from .40 points to .363 points.
The current 15 year mortgage rate is at 4.094 percent, and increase of eight basis points or 8/100 of a percent from Friday’s closing average mortgage rate of 4.011%. The average points charged by mortgage lenders to obtain the 15 year mortgage rate were also down, drifting to .338 points on average from .413 points on August 13.
The weak economic recovery across the globe is keeping a cap on mortgage interest rates movements; however mortgage rates will change daily often experiencing just mild changes day to day with some of the movements pushing rates slightly higher even while the interest rate market in general has hardly budged.
Today’s mortgage rates survey covers the largest bank mortgage lenders in the nation, results for the 30 year home loan from three of the top ten bank mortgage lenders in the survey included:
Wells Mortgage rates on a 30 year fixed rate home loan was 4.25% and a 1.0 point with an APR of 4.403% and the 15 year mortgage rate was 3.75% with 1.0 point for an APR of 4.017%.
Bank of America mortgage rates for the 30 year was 4.875% with 1.0 point and a 5.014% APR and 4.25% with 1.0 point and a 4.49% APR on the shorter term, 15 year mortgage loan.
Chase Mortgage rates came in at 5.00% and .125 points with a 5.068% APR for the 30 year home loan and 4.50% with no points for a 4.709% APR on the 15 year.
Today’s mortgage rates are current as of this publication date but are subject to change by the bank mortgage lenders. All home loan products and home loan rates are subject to mortgage lender approval.
The mortgage rates listed are based on mortgage loan amount of approximately $250,000.00 with a 20% down payment on a single family owner occupied property in California. Mortgage rates are dependent on the credit profile of the borrower, the down payment amount, property type, geographic location, as well as additional conditions that will impact the loan approval as well as the mortgage rate.
The mortgage rates and points are just a sample of the many home loan programs and mortgage rates that are available from these bank mortgage lenders. The mortgage rates listed are just a sample of the rates compiled in the mortgage rate survey.
Top Five Bank Mortgage Lender Rates June 21, 2010
Mortgage rates from the top bank mortgage lenders fell for the week ending June 18, 2010 based on the most recent survey of mortgage rates performed by Findlocalmortgagerates.com. The average mortgage rate for the both the 30 year fixed rate home loan and 15 year fixed rate home loan exhibited a reduction in rate for the week.
The 30 year mortgage rate average ended the week at 4.80% with .55 points compared to last week’s average 30 year mortgage rate of 4.85% with .575 points.
The survey result for the 15 year mortgage rate showed an average rate of 4.175% with .55 points as compared to the previous week’s average rate of 4.30% and .475 points.
The top five bank mortgage lenders in the mortgage rate survey included Chase Mortgage, Wells Fargo Home Loans, Citibank, Bank of America and US Bank.
The 30 year mortgage rate and 15 year mortgage rate as well as the points charged and APRs from the individual bank mortgage lenders in this week’s survey were as follows:
Chase Bank mortgage 30 year fixed rate home loan was 5.00% with 0.125 points and a 5.068% APR.
The Chase mortgage 15 year fixed rate home loan has a rate of 4.375% with .125 points and an APR of 4.951%.
Bank of America mortgage rate for a 30 year home loan is 4.625% with 1.375 points and an APR of 4.783%.
The Bank of America 15 year mortgage rate is 4.00% with 1.125 points and an APR of 4.235%.
Citibank offers the 30 year fixed home loan with a mortgage rate of 4.875% with 0.25 points and a 5.054% APR.
The Citibank mortgage rate for a 15 year fixed is 4.25% with .50 points and a 4.629% APR.
Wells Fargo Home Loans mortgage rate for the 30 year is 4.750% and 1.0 point and an APR of 4.939%.
Wells Fargo mortgage rate on the 15 year fixed is at 4.00% with 1.0 point and a 4.321% APR.
US Bank mortgage rate for a 30 year fixed rate home loan is 4.75% and no points with a 4.815% APR.
US Bank promotes a 15 year mortgage rate at 4.250% and no points with a 4.361% APR.
The bank mortgage lender rates listed as well as the points and APRs are subject to change and may vary depending on the credit, income, assets and property being purchased by the borrower.
Mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed. All mortgage loans are subject to bank approval.
The mortgage rates, points and APRs in the Findlocalmortgagerates.com mortgage 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.
The bank mortgage lenders listed offer a variety of additional home financing options to help find the loan that best fits a borrowers needs. For more information on these mortgage rates, the bank mortgage lenders listed can be reached directly at the following numbers:
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
Top Five Bank Mortgage Lender Rates June 14, 2010
Bank mortgage rates were up just slightly for the week ending June 11, 2010. The average mortgage rate from the top five bank mortgage lenders survey by Findlocalmortgagerates.com showed an increase in rate for the 15 year term home loan with a reduction in points charged while the average 30 year fixed rate home loan was unchanged with regards to the rate but increased for the average points charged.
The results of the survey this week:
30 year mortgage rate average is 4.85% with .575 points compared to last week’s average rate of 4.85% with .375 points.
The 15 year mortgage rate is 4.30% with .475 points as compared to the previous week’s average rate of 4.25% and .575 points.
Considering a mortgage loan is often the largest financial decision consumers will face. Reviewing the current mortgage rates and products available from the largest mortgage lenders is an important step to find an option that is right for your financial situation. Whether someone is just starting the home buying process, preparing to buy a new home or looking to refinance their current mortgage loan, reviewing the current mortgage rates from the largest bank mortgage lenders is a great starting point.
The top five bank mortgage lenders in the mortgage rate survey included Chase Mortgage, Wells Fargo Home Loans, Citibank, Bank of America and US Bank.
The 30 year mortgage rate and 15 year mortgage rate as well as the points charged and APRs from the individual bank mortgage lenders in this week’s survey were as follows:
Chase Bank mortgage rate for a 30 fixed rate loan is 5.00% with 0.25 points and a 5.079% APR.
The 15 fixed rate home loan from Chase has a rate of 4.50% with zero points and an APR of 4.596%.
Bank of America mortgage rate for a 30 year fixed rate mortgage is 4.750% with 1.125 points and an APR of 4.878%.
A 15 year mortgage from Bank of America has a rate of 4.125% with 1.375 points and an APR of 4.386%.
Citibank mortgage rate on a 30 year mortgage is 4.875% with 0.50 points and a 5.099% APR.
Citibank’s 15 year fixed mortgage rate is 4.375% with no points and a 4.603% APR.
Wells Fargo Home Loans mortgage rate is 4.750% and 1.0 point for a 4.939% APR.
Wells Fargo 15 year fixed rate is at 4.25% with 1.0 point and a 4.573% APR.
US Bank offers a 30 year fixed rate home loan with a mortgage rate of 4.875% and no points with a 4.941% APR.
The US Bank 15 year mortgage rate is 4.250% and no points with a 4.361% APR.
The bank mortgage lender rates listed as well as the points and APRs are subject to change and may vary depending on the credit, income, assets and property being purchased by the borrower.
Mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed. All mortgage loans are subject to bank approval.
The mortgage rates, points and APRs in the Findlocalmortgagerates.com mortgage 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.
The bank mortgage lenders listed offer a variety of additional home financing options to help find the loan that best fits a borrowers needs. For more information on these mortgage rates, the bank mortgage lenders listed can be reached directly at the following numbers:
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
Bank Mortgage Lenders Rates May 24, 2010
The overall cost to obtain a 30 year fixed rate home loan was down slightly for the week ending May 21, 2010. The average 30 year mortgage rate form the top five bank mortgage lenders surveyed by Findlocalmortgagerates.com was unchanged at 4.85% while the average points charged to secure this rate was down five basis points or 5/100 of a percent to end the week at 0.60 points.
The overall cost to obtain a 15 year fixed rate home loan moved in the opposite direction and increased by a small margin for the week. The average 15 year mortgage rate was also unchanged at 4.225% while the points charged by the top five mortgage lenders increased by 7.5 basis points to close the week at 0.70 points on average.
This week’s mortgage rate survey results:
30 year mortgage rate average 4.85% with 0.60 points.
15 year mortgage rate average 4.225% with 0.70 points.
Previous week’s mortgage rate survey results:
30 year mortgage rate average 4.85% with 0.65 points.
15 year mortgage rate average 4.225% with 0.625 points.
The weekly mortgage survey results once again closely parallels the rate changes in the Treasury market. Treasury rates were lower once again with the ten year Treasury rate falling significantly more than shorter term Treasury rates which corresponds with the reduction in costs for the 30 year mortgage while the 15 year was up just slightly.
The top five mortgage lenders in this week’s survey of the 30 year fixed rate mortgages continues to include the rates of Chase Mortgage, Wells Fargo Home Loans, Citibank, Bank of America and US Bank.
The mortgage rates for the 30 year mortgage and 15 year mortgage from the individual bank mortgage lenders, the points charged and APRs were as follows:
Chase Bank’s mortgage division offers the 30 mortgage rate at 4.875% with 0.375 points and a 4.964% APR.
Chase offers the 15 year mortgage rate at 4.25% with 0.50 points and an APR of 4.420%
Bank of America Home Loans has the 30 year fixed mortgage rate at 4.750% with 1.375 points and a 4.917% APR.
Bank of America’s 15 year mortgage rate is 4.125% with 1.50 points and an APR of 4.431%.
Citibank’s mortgage operation markets the 30 year mortgage rate of 4.875% with 0.25 points and a 5.054% APR.
Citibank promotes a 15 year fixed rate mortgage with a mortgage rate of 4.250% with 0.50 points and a 4.629% APR.
Wells Fargo Home Loans markets their 30 year fixed home loan with a mortgage rate of 4.875% and 1.0 point for a 5.065% APR.
While the Wells Fargo Home Loans 15 year fixed rate is at 4.25% with 1.0 point and a 4.573% APR.
US Bank has a 30 year fixed rate loan with a mortgage rate of 4.875% and no points with a 4.941% APR.
The US Bank 15 year term mortgage rate is 4.250% and no points with a 4.361% APR.
The mortgage rates, points and APRs listed are subject to change and may be different depending on the credit, income, assets and property being purchased by the borrower. The mortgage rates, points and APRs in the Findlocalmortgagerates.com mortgage 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. The 30 year fixed rate and 15 year fixed rate mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed.
The bank mortgage lenders listed offer additional mortgage loan options including additional mortgage rate and point options. For more information on these mortgage rates, the bank mortgage lenders listed can be reached directly at the following numbers:
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
For information on CD rates offerd by these banks, please visit our sister publication Selectcdrates.com and find Chase Bank CD rates, Citibank CD rates, Bank of America CD rates, US Bank CD rates as well as Wells Fargo CD rates.
Top Five Mortgage Lenders 30 Year Mortgage Rates May 17, 2010
The average 30 year fixed rate mortgage from the top five bank mortgage lenders in the U.S. fell measurably for the week ending May 14, 2010 based on the recent mortgage rate survey performed by Findlocalmortgagerates.com. This is the second consecutive week of significant interest rate reductions in the mortgage market.
Mortgage rates from the top five bank mortgage lenders closed the week with an average mortgage rate of 4.850%. The average origination and discount points charged to obtain that rate rose moderately to 0.65 points. In the previous week, the average 30 year mortgage rate stood at 5.00% with 0.475 points.
The 15 year fixed rate loan was also lower for the week but by a smaller margin. The average 15 year fixed rate mortgage from the top five mortgage lenders was 4.225% with 0.625 points, down from the previous week’s average 15 year mortgage rate of 4.375% and 0.375 points.
This week’s results were once again were driven by financial market uncertainty which had pushed investment funds into safe and secure investments such as Treasury bonds and mortgage bonds. During the week of May 10th to May 14th, the ten year Treasury bond yield dipped from 3.57% to 3.44%. This was a drop of 13 basis points or 13/100 of a percent which closely matches the drop found in the 30 year mortgage rate.
The top five mortgage lenders in this week’s survey of the 30 year fixed rate mortgages continues to include the rates of Chase Mortgage, Wells Fargo Home Loans, Citibank, Bank of America and US Bank.
The mortgage rates for the 30 year mortgage and 15 year mortgage from these individual mortgage lenders and the points charged were as follows:
Chase Bank Mortgage’s 30 mortgage rate is 4.875% with 0.375 points and a 4.964% APR.
The 15 year mortgage rate from Chase Home Mortgage is at 4.25% with 0.25 points and an APR of 4.383%
Bank of America Home Loans offers the 30 year fixed rate mortgage at 4.750% with 1.5 points and a 4.920% APR.
Bank of America Home Loan’s 15 year mortgage rate is 4.125% with 1.375 point and a 4.40% APR.
Citibank has a 30 year mortgage rate of 4.875% with 0.375 points and a 5.076% APR.
Citibank’s 15 year fixed rate mortgage is at 4.250% with 0.50 points leading to a 4.629% APR.
Wells Fargo Home Loans has a 30 year fixed mortgage with a rate of 4.875% and 1.0 point for a 5.065% APR.
The 15 year fixed rate mortgage at Wells is at 4.25% with 1.0 point and a 4.573% APR.
US Bank’s 30 year fixed rate home loan comes with a mortgage rate of 4.875% and no points with a 4.941% APR.
A 15 year term mortgage at US Bank has a mortgage rate of 4.250% and no points with a 4.361% APR.
The mortgage rates, points and APRs listed are subject to change and may be different depending on the credit, income, assets and property being purchased by the borrower. 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. The 30 year fixed rate and 15 year fixed rate mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed.
The bank mortgage lenders listed offer additional mortgage loan options including additional mortgage rate and point options. For more information on these mortgage rates, the bank mortgage lenders listed can be reached directly at the following numbers:
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