Top Five Bank Mortgage Rates July 19, 2010
After the Fed released the minutes on their last meeting that indicated the economy is not roaring ahead anytime soon, mortgage rates moved lower once again. Mortgage rates are determined by a number of factors, but are strongly influenced by the economy and demand for fixed income assets such as Treasury securities and, of course, mortgage backed securities. As the economy has dragged along, demand for these investments has remained strong pushing rates lower.
In the weekly mortgage rate survey of the top five bank mortgage lenders performed by Findlocalmortgagerates.com, both the 30 year fixed mortgage rate 15 year fixed mortgage rate shifted lower.
The average rate for the 30 year fixed rate mortgage dropped down to 4.750% from 4.775% in the previous week. The average points charged was up slightly to 0.475 from 0.45 points in the previous week.
The average 15 year fixed mortgage rate moved down to 4.20% from 4.225% in the previous week. The average points charged to obtain the rate on the 15 year remained unchanged at .45 points.
The Findlocalmortgagerates.com survey is designed to help consumers make informed choices when looking for the best mortgage and best mortgage rate. Results from the survey included the following bank mortgage lender rates, points and APRs on the 30 year and 15 year fixed rate home loan.
Chase Mortgage rates included the 30 year home loan at 4.875% with 0.25 points and a 4.953% APR and 15 year mortgage rate of 4.375% with zero points and an APR of 4.471%.
Bank of America mortgage rates for the 30 year and 15 year mortgage were 4.75% with 1.0 point and an APR of 4.877% for the 30 year and 4.125% with 1.25 points for a 4.382% APR on the 15 year.
Citibank offers a 30 year mortgage rate at 5.00% with 0.125 points for a 5.158% APR and 4.50% with no points with a 4.729% APR for the 15 year mortgage.
Wells Fargo mortgage rate on a 30 year mortgage is 4.50% with 1.0 point resulting in a 4.686% APR while the 15 year mortgage rate is at 3.875% with 1.0 point and a 4.195% APR.
US Bank mortgage rate is 4.625% with zero points and a 4.690% APR for a 30 year and 4.125% with zero points for a 4.236% APR on the 15 year term home loan.
The bank mortgage lenders listed offer a number of different rate and point options as well as a variety of additional home loans including FHA loans, adjustable rate mortgages, jumbo loans and more.
Bank mortgage rates are current as of this publication date but subject to change. The bank mortgage lender rates listed as well as the points and APRs may vary depending on the credit, income, assets and property being purchased by the borrower. All mortgage loans are subject to bank approval and additional conditions will apply.
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.
For more information on the above listed mortgage rates and loans, 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
AZ Mortgage Rates June 2010
There are many mortgage options and mortgage rates available in Arizona. Finding and comparing all of the AZ mortgage rates and programs can be a daunting task. With mortgage rates dropping to record lows across the nation, Findlocalmortgagerates.com survey takes a look at the local mortgage rates in Arizona compared to the national mortgage rates.
Every borrower’s situation regarding a mortgage loan is different, by researching the mortgage rates and home loan products at a variety of mortgage lenders a borrower can find the best home loan to meet their individual requirements.
Today’s mortgage rates come from two of the top 25 largest banks in Arizona, First Arizona Savings and FirstBank of Arizona and two of the top largest bank mortgage lenders in the nation, SunTrust Mortgage and Chase Mortgage.
FirstBank has over 130 bank branch locations in Arizona, California and Colorado. A 30 year fixed rate mortgage in AZ from FirstBank has a mortgage rate of 4.625% with 1.0 point and an APR of 4.754%. The 15 year mortgage rate in Arizona at FirstBank is at 4.25% with 1.0 point and an APR of 4.449%.
First Arizona Savings is headquartered in Arizona with bank branch locations in North and South Scottsdale, Glendale, Kingman, Bullhead City, Lake Havasu City and Fort Mohave. The 30 year mortgage rate from First Arizona Savings is at 4.625% with 1.125 points and an APR of 4.753%. The 15 year mortgage rate at First Arizona Savings is at 4.500% with no points and a 4.552% APR.
The Chase Mortgage rate in Arizona for a 30 year fixed is at 5.125% with .375 points and an APR of 5.230%. The 15 year Chase Mortgage rate is 4.625% with 0.25 points and an APR of 4.783%.
The SunTrust Mortgage rate on a 30 year fixed rate home loan is 4.375% with 1.375 points and an APR of 4.523%. The SunTrust Mortgage rate on a 15 year fixed rate home loan is 3.875% with 1.125% and an APR of 4.091%.
The key for new home loan borrowers is to find a competitive mortgage rate with low closing costs combined with timely service from the bank or mortgage lender.
The Arizona mortgage interest rates, annual percentage rates and discount points shown are subject to change without notice. Please note that the interest rate and fees shown here are available to borrowers with an excellent credit history and are based on an owner occupied property with a down payment of 20% or greater. Actual fees and mortgage rates in AZ will be based on the credit history of the applicant, the borrower’s income and assets as well as the property type, location and other factors.
The bank mortgage lenders listed can be reached at the following toll free numbers:
First Arizona Savings can be reached at 800-280-2800
FirstBank mortgage department can be reached at 866–964–2040
Chase Mortgage can be found at 800-873-6577
SunTrust Mortgage customer service is available at 800-634-7928
Michigan Mortgage Rates June 1, 2010
To choose a home loan in Michigan, prospective borrowers have a number of different options to choose from. To help find the loan that’s best suits an individual’s need, a good starting point is to evaluate the mortgage rates in Michigan from local mortgage lenders and some of the largest mortgage lenders in the U.S. From here the home loan search can be quickly narrowed in on the mortgage rate and costs and quick phone call can help decide which mortgage lender in Michigan offers the right level of service.
Today’s mortgage rate survey from Findlocalmortgagerates.com involves the Michigan mortgage rates from two large local mortgage lenders, Isabella Bank and Monroe Bank and Trust, as well as mortgage rates in Michigan from two of the largest bank mortgage lenders, Bank of America and Chase Bank.
The following list contains the results of the mortgage rate survey form these four banks for home loans in Michigan for a 30 year mortgage and 15 year mortgage for a $225,000 home loan amount with a 20% down payment.
Isabella Bank offers a 30 year fixed rate mortgage with a mortgage rate of 4.875% with zero points and a 4.997% APR.
A 15 year home loan from Isabella Bank has a mortgage rate of 4.25% with no points with an APR of 4.332%.
Monroe Bank and Trust offers a 30 year mortgage rate in Michigan at 4.875% with no points for a 5.003% APR.
The 15 year fixed rate mortgage with Monroe Bank and Trust is at 4.375% and no points with a 4.486% APR.
Bank of America 30 year mortgage rate is currently at 4.875% with 0.625 points and an APR of 4.977%.
The 15 year mortgage rate from Bank of America is at 4.125% with 1.5 points and a 4.43% APR.
Chase Bank, the largest US bank, offers a 30 year mortgage in Michigan with a mortgage rate of 5.00% with 0.125 points and a 5.16% APR.
A 15 year mortgage rate from Chase Bank is at 4.375% with 0.25 points and a 4.54% APR.
Mortgage interest rates in Michigan listed and/or points are subject to change without notice, and may vary based on credit profile of the borrower, the loan amount, property type and other characteristics of the loan request.
Review the current mortgage rates and costs with the lender before committing to a final loan request. Actual closing costs should be provided through a Good Faith Estimate within three business days of the application being submitted to any of these mortgage lenders.
Additional mortgage rates and point options are available from these lenders in Michigan, the following contact numbers can be used to reach the banks listed to find more about their home financing options:
Isabella Bank 800- 651-9111
Isabella Bank was founded in 1903 and has 24 bank branch locations throughout Mid-Michigan.
Monroe Bank and Trust mortgage representatives can be reached at 734-242-2204 or the bank’s customer service number at 800-321-0032
Monroe Bank and Trust is a full service bank with branch locations throughout Monroe and in Bedford, Carleton, Dundee, Erie, Flat Rock, Ida, Lambertville, Milan, Newport, Northville, Petersburg, Plymouth, Taylor, Temperance, Trenton and Wyandotte.
Bank of America mortgage department can be reached at 800-551-7975.
Chase Bank mortgage can be contacted at 800-873-6577.
For information on Chase Bank or Bank of America ceritfictae of deposit rates please visit our affiliate publication, www.selectcdrates.com under Bank of America CD rates and Chase Bank CD rates. For information on the credit cards offered by these banks visit www.bestcreditcardrates.com under best credit card rates.
Top Five Mortgage Lenders Rates May 3, 2010
Mortgage rates from the top five bank mortgage lenders dropped rather measurably for the week ending May 7, 2010 according to the most recent survey of mortgage rates performed by Findlocalmortgagerates.com.
The average mortgage rate on a 30 year fixed rate mortgage loan from the top five mortgage lenders closed out the week at 5.00% with 0.475 points. This is a reduction in the average 30 year fixed rate mortgage of ten basis points or 10/100 of a percent. In the previous week, the average 30 year fixed rate came in at 5.10%. The amount of points charged by these mortgage lenders to obtain the rate was unchanged week over week.
With mortgage rates remaining quite low throughout most of this year thus far, a drop of this magnitude is fairly significant. Of course, market turbulence in the past few weeks brought on by the problems with the financial debt troubles in Greece has driven funds into safe investments such as U.S. Treasuries and mortgage backed securities. The ten year Treasury bond, which is one of the best barometers on the direction of mortgage rates, ( the best barometer being the rates on actual mortgage backed securities ) moved from a yield of 3.72% on Monday May 3rd to 3.57% on Friday may 7th. An interest rate reduction of that magnitude is not enough seen in just one week in the Treasury markets.
One concern regarding investor turmoil and the future direction of mortgage rates is that once the concerns regarding market instability subsides funds will flow into commodities and stocks and out of Treasuries and mortgage backed securities, reversing the direction of mortgage rates and subsequently driving rates higher. This outcome for mortgage rates is highly likely, however, the rate increases in the coming weeks will most likely be mild.
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. These bank mortgage lenders are also the five largest banks in the U.S. based on assets.
The mortgage rates from these individual mortgage lenders in this week’s survey for the 30 year fixed rate home loan were as follows:
Chase Bank Mortgage’s 30 year fixed rate home loan has a mortgage interest rate of 5.125% with 0.375 points and a 5.215% APR.
Bank of America Home Loans has the 30 year fixed rate mortgage at 4.875% with 1.0 point and a 4.993% APR.
Citibank’s offers a 30 year fixed rate mortgage at 5.125% with no points and an APR of 5.261%.
Wells Fargo Home Loans markets the 30 year fixed rate mortgage loan at 4.875% and 1.0 point for a 5.065% APR.
US Bank has a 30 year fixed rate home loan with a mortgage rate of 5.000% and no points with a 5.066% APR.
There are a number of other mortgage loan options available from these mortgage lenders including additional rate and point options. The mortgage rates, points and APRs listed are subject to change. 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. These mortgage rates are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed.
For additional information on these mortgage rates, the mortgage lenders 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
Mortgage Rates from the Top Five Bank Mortgage lenders April 5, 2010
The 30 year fixed rate mortgage climbed rather measurably for the week ending April 4, 2010 according to the most recent mortgage rate survey performed by Findlocalmortgagerates.com. The average rate on the 30 year fixed rate mortgage in the past week has made the largest jump in rate so far in 2010. From a historical perspective rates remain low however they have been climbing steadily since mid March.
The average rate from the top five bank mortgage lenders ended the week at 5.300% with 0.65 points. This is an increase from the previous week’s average rate of 5.075% and 0.575 points.
For the second week in a row, all five of the top mortgage lenders raised their rates. The top mortgage lenders in this week’s survey include: Chase Bank, Bank of America, Citibank, Wells Fargo Bank and US Bank.
Mortgage rates and points were based on a loan amount of between $200,000.00 and $275,000.00 on a single family owner occupied home based in Illinois with a 20% or greater down payment. Note - Some mortgage lenders will have regional difference in mortgage rates.
The largest U.S bank, Chase Bank, now offers a 30 year fixed rate mortgage at 5.375% with 0.25 points and a 5.455% APR. This current mortgage rate is an increase of .125% and a decrease in points charged of 0.125 points.
Bank of America is now offering a 30 fixed rate mortgage at 5.125% up from last week’s rate of 4.875% and costs 1.50 points up from 1.25 points in the previous week.
Citibank’s 30 year fixed rate home loan is now costing 5.375% and 0.50 points up from 5.125% and 0.50 points.
Wells Fargo Home Loan 30 year fixed rate home loan comes in at 5.375% with 1.00 point. Last week Wells promoted the 30 year at 5.000% and 1.00 point.
US Bank markets their 30 year fixed rate mortgage with an interest rate of 5.275% and no points which is 0.25% above the prior week’s figures of 5.125% and no points.
In summary, the top five bank mortgage lenders are marketing the following 30 year fixed rate loans including the mortgage rate, points and APR of:
Chase Bank 5.375% and 0.250 points and a 5.455% APR.
Bank of America is at 5.125% with 1.500 points and a 5.299% APR.
Citibank’s 30 year is 5.375% with 0.50 points and a 5.547% APR.
Wells Fargo 5.250% and 1.00 point for a 5.444% APR.
US Bank is at 5.375% and no points and a 5.443%.
Additional mortgage rates and point options are available along with additional loan programs from these mortgage lenders. The contact numbers for the listed bank mortgage lenders to obtain current mortgage rates and additional loan information:
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
All listed mortgage rates, points and APRs are subject to change. All information is obtained from the bank mortgage lenders and is believed to be accurate and current as of the posted date. Mortgage loans and mortgage interest rates are not guaranteed.
All mortgage loan rates and mortgage loan products require bank approval.
Mortgage Rates in Illinois at Harris Bank
Harris Bank is a Midwest bank headquartered in Chicago, Illinois. Harris offers mortgage loans across the U.S. The bank provides mortgage loans and competitive mortgage rates in Illinois as well as other states on a variety of different home loan products.
Harris offers loans for purchasing new homes and refinancing existing home loans. Mortgage loans products include standard fixed rate home loans with different terms, adjustable rate loans with different fixed rate periods and even biweekly mortgage loan programs.
Potential home loan borrowers that are not sure about loan qualifications, Harris has a pre-approval that provides a firm loan commitment from the bank.
Current Illinois mortgage rates offered by Harris Bank include the following products, terms and mortgage rates:
30 year fixed rate mortgage has a mortgage rate of 5.125 with no points and a 5.161% APR.
The 30 year fixed rate loan with 1.0 point has a mortgage rate in Illinois of 4.875% and a 4.999% APR.
On a 15 year term, the fixed rate loan in Illinois offered by Harris has a mortgage rate of 4.500% with no points and a 4.561% APR.
With 1.0 point, the 15 year mortgage rate is 4.250% and an APR of 4.461%.
For Illinois mortgage rates with adjustable rate terms, Harris Bank offers several options.
The five year adjustable rate mortgages with a 30 year terms has a mortgage rate of 4.125% with no points and an APR of 3.510%.
The 5/1 ARM with 1.0 points has a mortgage rate of 3.75% and a 3.458% APR.
The seven year adjustable rate mortgage in Illinois has a mortgage rate of 4.625% with no points and a 3.869% APR.
With 1.0 point, the 7/1 ARM has a mortgage rate of 4.375% and an APR of 3.833%.
The listed mortgage rates in Illinois are based on a loan amount of $250,000.00 with a 20% or greater down payment for a single family owner occupied property. Other mortgage rates in Illinois and point options are available.
Illinois mortgage rates are current as of this publication, March 10, 2010 and are subject to change at anytime without notice. A home loan borrower’s final mortgage rate may vary based on the specific characteristics of their loan transaction including, but not limited to, the region where the loan is originated, any additional loans against the property, the borrower’s credit profile up to the time of closing. All mortgage loans in Illinois are subject to approval by Harris.
Harris Bank is part of the BMO Financial Group and along with mortgage loans, provides a variety of personal, business and corporate clients with banking, lending, investing and wealth management products and services.
Mortgage Lender East West Bank
East West Bank is one of the largest independent commercial banks headquartered in Los Angeles. The bank provides a wide range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals.
East West Bank has 69 branches in California located in the following counties: Los Angeles, Orange, San Bernardino, San Francisco, San Mateo, Santa Clara and Alameda. In addition, the bank has one bank branch in Houston, Texas.
The bank offers a broad range of products designed to meet the credit needs of its borrowers. The bank’s lending activities include residential single family loans, residential multifamily loans, commercial real estate loans, construction loans, commercial business loans, trade finance loans, and consumer loans.
East West Bank offers a variety of mortgage loans. The bank originates mortgage loans to purchase a new home or refinance an existing home. East West Bank’s mortgage rates and fees are highly competitive.
The bank offers both fixed and adjustable rate (“ARM”) single family residential mortgage loan programs. The bank’s ARM loan programs have six-month, three-year, five-year, or seven year initial fixed periods. We originate single family residential mortgage loans
The bank also offers both fixed and adjustable rate multifamily mortgage loan programs.
The underwriting criteria for the mortgage loans generally include minimum FICO scores, maximum loan-to-value ratios and minimum debt coverage ratios.
Current mortgage rates and mortgage loan terms from East West Bank include the following:
30 year fixed rate mortgage with rate of 5.250% and 0.625 points with an APR of 5.446%
15 year fixed rate mortgage that has a rate of 4.625% and 0.625 points with an APR of 4.946%
For more flexible underwriting to meet special borrowing needs, the bank offers some portfolio home loan programs including:
6 month adjustable rate mortgage with a rate of 7.000% and 1.0 point and an APR of 8.107%
3/1 ARM with a mortgage rate of 6.625%, 1 point and an APR of 6.773%
Mortgage rates subject to change and require loan approval. Standard conditions mortgage loan and mortgage rate conditions include: the property is a single family used as your primary residence, except for the multi-family product which assumes a non-owner occupied residence. The property for the mortgage loan is located in California. The down payment towards the property is 25%. Income and assets are documented and are sufficient to qualify for the mortgage loan. There will be no subordinate financing behind the newly created 1st Mortgage. Mortgage rates and points are based on a 30 day lock period. Borrower’s credit is subject to East West Bank approval.
For current mortgage rates and account details contact a bank representative at 888-895-5650. Mortgage rates and additional mortgage loan information is also posted online at the bank website located at www.eastwestbank.com.
For CD interest rates offered by East West Bank visit, www.selectcdrates.com. For current auto loan rates from East West Bank visit, www.selectautorates.com.