TN Mortgage Rates June 28, 2010
Mortgage rates in Tennessee have dropped rather measurably in June. When it comes to choosing the best TN mortgage rates a review of local bank mortgage lenders as well as the largest national bank mortgage lenders provides a good foundation.
Two of the top ten largest banks in Tennessee that offer competitive mortgage rates and home loan products include Wilson Bank and Trust and Home Federal Bank. These mortgage rates were recently compared to the mortgage rates of two of the top ten largest banks in the nation, Chase Bank and Bank of America.
The two largest U.S. banks are offering the following mortgage rates and terms:
Chase mortgage rates in TN on a 30 year fixed rate mortgage is at 5.125% with 0.25 points and an APR of 5.219%.
Chase Bank offers the 15 year fixed rate loan at 4.625% with no points and a 4.746% APR.
Bank of America markets a 30 year mortgage rate at 4.75% and 1.125 points with an APR of 4.892%.
Bank of America mortgage rate on 15 year home loan is at 3.875% with 1.0 point and an APR of 4.099%.
The two top ten banks in Tennessee are offering the following mortgage rates and terms:
Home Federal Bank based in Knoxville offers a 30 year fixed rate home loan with a rate of 4.25% with 1.25 points and an APR of 4.3744%.
The 15 year fixed rate mortgage from Home Federal Bank is at 3.75% with 1.0 point and a 3.929% APR.
Wilson Bank and Trust promotes a 30 year fixed at 4.50% with no points and a 4.528% APR.
The TN mortgage rate for a 15 year from Wilson Bank and Trust is at 3.875% and no points and a 3.924% APR.
The TN mortgage interest rates, points and APRs listed are based on a home purchase with a 20% down payment on a single family property for borrowers with an excellent credit history. The actual TN mortgage rates and APRs will be based on the borrower’s credit history, income and assets as well as the property location and value.
Mortgage rates in TN listed are current as of this publication date but are not guaranteed. All mortgage loans are subject to bank lender approval and conditions.
The banks listed offer a variety of loan options to choose from including fixed rate mortgages in Tennessee and adjustable rate mortgages.
Home Federal Bank can be reached at 865-691-0935
Wilson Bank and Trust can be reached at 615-444-2824
Bank of America mortgage department is available at 1-888-233-4124
Chase Mortgage representatives can be reached at 1-800-873-6577
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
Mortgage Rates from the Big Five Banks February 26, 2010
The five largest U.S. banks, ranked by assets, are Chase Bank, Bank of America, Citibank, Wells Fargo and US Bank. The mortgage rates and mortgage loans presented by these five banks offer a good barometer of the home loans available in today’s mortgage market.
Findlocalmortgagerates.com conducts a weekly survey of the largest bank mortgage lenders and produces a sample of loan rates drawn from the survey.
Current mortgage rates offered by the top five lenders include:
Chase Bank mortgage loans:
30 year fixed rate loan has a mortgage rate of 5.125% and 0.50 points with a 5.227% APR.
15 year fixed rate loan has a mortgage rate of 4.500% and 0.375 points with a 4.690% APR.
A 5/1 adjustable rate mortgage has a mortgage rate of 4.250% and no points with a 3.598% APR.
Bank of America mortgage loans:
30 year fixed rate loan has a mortgage rate of 4.875% and 0.625 points with a 5.040% APR.
15 year fixed rate loan has a mortgage rate of 4.250% and 0.875 points with a 4.570% APR.
A 5/1 adjustable rate mortgage has a mortgage rate of 3.625% and 1.125 points with a 3.493% APR.
Citibank mortgage loans:
30 year fixed rate loan has a mortgage rate of 5.125% and no points with a 5.294% APR.
15 year fixed rate loan has a mortgage rate of 4.375% and 0.250 points with a 4.735% APR.
Wells Fargo mortgage loans:
30 year fixed rate loan has a mortgage rate of 4.875% and 1.0 point with a 5.065% APR.
15 year fixed rate loan has a mortgage rate of 4.250% and 1.0 point with a 4.573% APR.
A 5/1 adjustable rate mortgage has a mortgage rate of 3.750% and 1.0 point with a 3.519% APR.
US Bank mortgage loans:
30 year fixed rate loan has a mortgage rate of 4.875% and 1.0 point with a 5.029% APR.
15 year fixed rate loan has a mortgage rate of 4.250% and 1.0 point with a 4.511% APR.
A 5/1 adjustable rate mortgage has a mortgage rate of 3.375% and 1.0 point with a 3.678% APR.
On the adjustable rate loans listed, interest rates are subject to change and potential increases over the life of the loan once the initial fixed-rate period ends.
Mortgage rates listed are the rates for a single family, owner occupied residence with a down payment of 20% or greater, other restrictions and conditions may apply. Mortgage loans and mortgage rates are subject to bank approval and may change without notice.
The mortgage lenders listed may offer many different loan programs and different mortgage rate and point options. For more information on products or rates not listed, contact the lender directly.
Adjustable Rate Mortgages at the Top Five US Bank Mortgage Lenders
Since the price of housing has become so expensive, a number of home buyers continue to look for lower monthly mortgage payments with an adjustable rate mortgage. By reducing the mortgage rate on a home loan by .500%, a borrower a may be able to lower their payments by $31.37 a month for every $100,000 borrowed. Of course, the trade off is the potential for a rising rate and monthly payment when the adjustable rate mortgage adjusts in the future.
The advantage of the 5/1 adjustable rate mortgage (ARM) is that this home loan has an initial five year fixed -interest rate. After this initial five year fixed term, the mortgage rate will adjust on an annual basis according to an index plus a margin.
Current mortgage rates for 5/1 adjustable rate mortgages offered by the five largest US banks include the following rate and point options:
Chase Bank offers a 5/1 ARM with a rate of 4.75% and no points with an APR of 3.847%.
Chase Bank mortgage can be reached at 800-873-6577.
Bank of America offers a 5/1 ARM at 4.00% with 0.875 points and an APR of 3.655%.
Bank of America mortgage operations can be reached at 800-551-7975.
Citibank does actively market a 5/1 ARM. Rates were not available.
To contact Citibank mortgage originations the phone is 800-667-8424.
Wells Fargo Bank promotes a 5/1 adjustable rate mortgage with an interest rate of 4.00% with 1 point and a 3.663% APR.
Wells Fargo Bank mortgages can be contacted at 877-937-9357.
US Bank markets a 5/1 ARM at 4.125% and no pints with an APR of 3.948%.
US Bank mortgages loan personnel can be contacted at 888-831-7524.
Just for good measure, Quicken Loans offers a 5/1 ARM at 3.875% with 1.875 points and an APR of 3.654%.
Quicken Loans can be reached at 800-251-9080.
Mortgage rates continue to remain low though the forecast is for rates to rise in the coming months. During periods of rising rates, borrowers should generally consider locking into the current low fixed interest rates that are available in the mortgage market. Whether mortgage interest rates will rise is open for debate, however rates are highly unlikely to fall any further and will inevitably begin to rise at some point over the next few months or years.
The mortgage rates from the mortgage lenders listed were obtained on January 8, 2010. Mortgage rates are subject to change. All loans are subject to bank approval, additional conditions may apply.