Top Bank Mortgage Rates December 13, 2010
Mortgage rates were not only higher once again over the past week, but the increase in bank mortgage rates was one of the largest weekly increases in several weeks. By the close of the week, 30 year mortgage rates had jumped up by 20 basis points or 20/100’s of percent. The 15 year mortgage rate also shot up 20 basis points for the week.
The average 30 year bank mortgage rate closed at 4.875 percent on December 10, 2010 up from 4.675 percent in the prior week. The average 15 year mortgage rate ended the week at 4.20 percent, up from 4.00 percent in the preceding week.
Points charged by the bank mortgage lenders to obtain the rates found in the survey showed mixed results. The points charged on a 30 year loan were slightly lower while the points charged on a 15 year loan were slightly higher. The average points on the 30 year mortgage were 0.45 points and the average points charged on the 15 year mortgage were 0.55 points.
Despite the Treasury bond purchase transactions performed by the Fed, mid and long term interest rates have risen rather substantially in the last three weeks. While the Fed continued to buy Treasury securities not only did mortgage rates rise by 20 basis points but the ten year Treasury rose by 29 basis points during the same week. The ten year Treasury bond started the week at 3.03 percent and ended at 3.32 percent.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending December 10th included the following 15 year and 30 year mortgage rates, points and APR’s:
Wells Mortgage rates were up over by ¼ percent on average with a 30 year mortgage rate rising to 4.875% with 1.0 point and a 5.034% APR and a 15 year mortgage rate of 4.250% with 1.0 point and a 4.521% APR.
Chase Mortgage rates increased to 4.875% with 0.50 points and an APR at 4.975% on a 30 year mortgage and 4.250% with 0.25 points and a 4.383% APR on a 15 year mortgage.
Citibank mortgage rates increased just under ¼ of a percent to 5.00% with no points and a 5.135% APR on a 30 year home loan and 4.250% with 0.375 points for an APR of 4.591% on the 15 year home loan.
Bank of America mortgage rates were up by .25 percent with a 30 year loan at 4.75% with 0.75 points resulting in a 4.787% APR and a 15 year loan at 4.00% with 1.125 points for a 4.250% APR.
US Bank mortgage rates ended the week with a 30 year mortgage rate of 4.875% and zero points for a 4.941% APR and a15 year mortgage rate of 4.250% with zero points and a 4.361% APR.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: December 10th, 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.
Information provided on the bank mortgage rates was obtained directly from the bank mortgage lenders listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
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.
Bank Mortgage Lender Rates December 2nd, 2010
There was a bump up in bank mortgage rates mid week after the overall level of long term interest rates headed higher measurably higher on Wednesday. The first day of December saw an over two percent jump in the stock market and a rather substantial drop in bond prices that drove long term Treasury rates higher with mortgage rates following closely behind.
The ten year Treasury shot up over 15 basis points rising from 2.81 percent on Tuesday to 2.97 percent on Wednesday. Mortgage rates did not increase by nearly as much as the ten year Treasury but ended the day higher for both the 30 year term home loan as well as the 15 year home loan.
Bank mortgage rates from the top five bank mortgage lenders increased by ten basis points or 10/100’s of a percent on the 30 year mortgage from the start of the week and increased by eight basis points on the 15 year mortgage. The average rate for the 30 year mortgage now stands at 4.725 percent while the average 15 year mortgage rate is at 4.050 percent.
The average points charged by the top five bank mortgage lenders ticked up to 0.475 points for a 30 year mortgage loan and remained unchanged at 0.375 points for a 15 year mortgage loan.
Today’s bank mortgage rates found in the Findlocalmortgagerates.com midweek mortgage rates survey for mortgage rates at the close of December 1st included the following 15 year and 30 year mortgage rates, points and APR’s:
Chase Mortgage rates increased on both the 30 year mortgage and 15 year mortgage to close at 4.875% and 0.125 points with a 4.942% APR on a 30 year term and 4.250% with zero points and a 4.345% APR on a 15 year term loan.
Bank of America mortgage rates were unchanged while the points charged increased modestly, the 30 year mortgage rate at B of A closed at 4.375% with 1.25 points and a 4.516% APR while the 15 year Bank of America mortgage rate ended at 3.750% with 0.875 points and a 3.945% APR.
Wells Mortgage rates on the 30 year loan bumped up to 4.75% with 1.0 point and a 4.908% APR and while the 15 year mortgage rate appeared to move lower to 3.875% with 1.0 point and a 4.143% APR.
Citibank mortgage rates were up .125 percent with the 30 year mortgage rate at 4.875% with no points and a 5.009% APR and the 15 year rate at 4.250% with no points for an APR of 4.477%.
US Bank mortgage rates on the 30 year and 15 year mortgage were unchanged with the 30 at 4.75% and no points with an APR at 4.815% and the 15 year mortgage rate at 4.125% with no points and a 4.236% APR.
The mortgage rates and points listed from the top five bank mortgage lenders are current as of the survey date December 1, 2010. Information provided on the bank mortgage rates was obtained directly from the bank mortgage lenders listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy. 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 in NJ May 28, 2010
One of the best starting points for mortgage rate shopping is to compare the rates offered by the some of the largest mortgage lenders with the local mortgage lenders. This allows the prudent mortgage shopper to quickly compare mortgage rates and programs before narrowing the loan search down to a specific mortgage lender.
To compare mortgage rates in New Jersey, Findlocalmortgagerates.com has reviewed the 30 year mortgage rates from two of the largest bank mortgage lenders, Chase Bank and US Bank, with two of the larger bank mortgage lenders based in NJ, Spencer Savings Bank and Sun National Bank.
The results of the survey for NJ mortgage rates on May 28, 2010 area as follows:
Sun National Bank offers a 30 year fixed mortgage rate in NJ at 5.00% with zero points and an APR of 5.029%. A 15 year fixed rate home loan from Sun National Bank has a mortgage rate of 4.375% with no points and a 4.425% APR.
Spencer Savings Bank offers the 30 year fixed in NJ with a mortgage rate of 4.875% with zero points and a 4.882% APR. The 15 year in NJ from Spencer has a mortgage rate of 4.25% with no points and an APR of 4.263%
Chase Mortgage offers a 30 year mortgage rate in NJ at 5.00% with .25 points and a 5.079% APR. A 15 year fixed rate home loan in NJ from Chase has a rate of 4.375% with .25 points and APR of 4.508%.
US Bank promotes the 30 year loan with a rate of 4.875% and no points with a 4.941% APR. The 15 year mortgage rate in NJ from US Bank is at 4.25% with no points and a 4.361% APR.
A 15 year fixed rate mortgage offers the borrower the ability to own their home free and clear in 15 years. Although the monthly mortgage payments will be higher than a 30 year home loan, the interest rate on the 15 year mortgage is running slightly more than .50% lower than the 30 year for the mortgage rates in New Jersey listed and a borrower will end up paying less than half the total interest cost of the traditional 30 year mortgage.
Conforming 30 year fixed rate home loans have no prepayment penalties and a borrower can accelerate the payments at anytime to reduce the balance and pay off the loan earlier than the original maturity date and use the lower initial payments to budget their savings, expenses and equity appreciation better.
The points charged by some of the mortgage loans listed are equal to one percent of the loan amount. The borrower will pay the points at the loan closing usually in exchange for a lower mortgage interest rate over the term of the home loan. The points charged will generally result in greater total closing costs; in exchange the borrower will have lower monthly payments over the term of the loan.
Mortgage rates listed on this page are the current rates for a single-family, primary residence with a 20% or greater down payment. Individual mortgage rates may vary according to different property and loan characteristics such as credit and income of the borrower. Mortgage rates are subject to change without notice and all mortgage loans are subject to bank or lender approval.
The bank mortgage lenders in New Jersey listed can be reached at the following numbers:
Spencer Savings Bank 800-363-8115.
Spencer Savings Bank has been doing business in New Jersey for more than 70 years and has 18 bank branches in the Garden state.
Sun National Bank 800-786-1677.
Sun National Bank is headquartered in Vineland and has 70 bank branches throughout Jersey.
Chase Bank mortgage department can be reached at 800-873-6577.
US Bank mortgage representatives can be reached at 800-365-8544.
To view information for Chase Bank certificate of deposit rates, US Bank certificate of deposit rate or CD rates in New Jersey please visit our affiliate web site Selectcdrates.com and view the following pages: Chase Bank CD rates, US Bank CD rates or New Jersey CD rates.