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.
Top Five Bank Mortgage Rates March 22, 2010
Mortgage rates from the five largest banks were up marginally for the week ending March 19, 2010. The mortgage rate and point increase was so mild as to be almost imperceptible. With rates near record lows, lack of direction or movement isn’t necessarily a bad thing.
The five largest U.S. bank mortgage lenders measured in the weekly survey performed by Findlocalmortagerates.com includes: Chase Bank, Bank of America, Citibank, Wells Fargo Bank and US Bank.
Of the five bank mortgage lenders surveyed on a 30 year fixed rate mortgage, only 2 banks altered their rates for the week while the remaining 3 financial institutions kept their rates unchanged for the week.
The largest US bank, Chase Bank, increased the cost on new mortgage loan to 5.125% with 0.375 points. This mortgage rate is based on a $275,000.00 loan with a 20% or greater down payment. Last week, Chase Home Mortgage offered the same home loan at 5.125% with 0.25 points or just .125 points ( not the mortgage rate ) lower.
A $200,000.00 home loan with Citibank can be obtained with a mortgage rate of 5.125% and 0.25 points. This an increase similar to that of Chase Bank of .125 points with no change in the mortgage rate.
Bank of America offers a 30 fixed rate mortgage at 4.875% with 0.75 points and an APR of 5.001%, this rate is unchanged from the previous week.
Wells Fargo Home Loan promotes a 30 year fixed rate home loan at 4.875% with 1.00 point and a 5.065% APR. The Wells Fargo mortgage rate remained unchanged week over week.
US Bank has a 30 year fixed rate loan with a rate of 5.00% and no points with an APR of 5.066%. This rate also held steady from the prior week.
All mortgage loans, mortgage rates and points posted are subject to change and all loans would require bank approval. Additional mortgage rates and point options are available from these mortgage lenders as well as additional mortgage loan programs such as 15 year fixed rate mortgages, jumbo home loans and FHA Loans.
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.
Current mortgage rates and loans terms can be obtained by contacting the lenders directly. Bank mortgage customer service representative can be reached at the following numbers for each institution:
Chas Bank 800-873-6577
Bank of America 800-551-7975
Citibank 800-667-8424
Wells Fargo 877-937-9357
US Bank 888-831-7524
Top Five Bank Mortgage Rates March 8, 2010
The top five banks ranked by assets include Chase Bank, Bank of America, Citibank, Wells Fargo Bank and US Bank. All five of these banks offer mortgage loans and mortgage rates in the majority of the states. Mortgage rates offered by these financial institutions provide a good barometer of prevailing mortgage rates and mortgage activity in the lending arena.
The following rates can help borrowers easily compare mortgage interest rates and product information to help find the right mortgage quickly and efficiently.
The rates are for mortgage loans based in California with a 20% or greater down payment for a single family, owner occupied home. If the down payment on a new home purchase is less than 20%, mortgage insurance may be required on the loan. The added cost of mortgage insurance could increase the APR as well as the monthly mortgage payment.
All loans would be subject to bank approval including a credit, income and assets. The mortgage rates were run on sample loan amounts of $175,000.00. Additional mortgage rates, point options and loan amounts are available from the mortgage lenders listed.
Chase Mortgage is currently offering a 30 year fixed rate home loan with mortgage rate of 5.25% and 0.125 points for an APR of 5.343%.
The 15 year fixed rate loan offered by Chase has a mortgage rate of 4.625% and 0.125 points for an APR of 4.782%.
Bank of America Home Loans promotes a 30 year loan with a mortgage rate of 4.875% with 1.0 point and an APR of 5.098%.
A 15 year term loan from Bank of America has a mortgage rate of 4.250% with 0.625 points and a 4.576% APR.
Citibank markets a 30 year home loan with a mortgage rate of 5.125% and 0.125 points for a 5.317% APR.
Citibank has a 15 year mortgage loan with an interest rate of 4.375% and 0.375 points with an APR of 4.773%.
Wells Fargo Home Mortgage markets their 30 year fixed with a mortgage rate of 4.875% and 1.0 point yielding an APR of 5.065%.
The 15 year fixed rate loan from Wells Fargo has a mortgage rate of 4.250% and 1.0 point with a 4.573% APR.
US Bank’s 30 year fixed rate mortgage has a mortgage rate of 5.125% and no pints with a 5.192% APR.
The 15 year fixed rate home loan at US Bank has a mortgage rate of 4.375% and no points and a 4.487% APR.
All rates are believed to be accurate and were verified on the date of this publication but interest rates are not guaranteed. For current mortgage rates and loan terms contact the mortgage lenders directly.