Today’s Mortgage Rates August 31, 2010

For the last day of August, today’s mortgage rates continued their August downward trend and closed lower yet again.  Hard to believe, but today’s’ mortgage rates from the top ten bank mortgage lenders are lower today than they were just three days ago, at the close of last week on August 27. 

Conventional fixed mortgage rates rose slightly on Friday when short term bond prices fell measurably and interest rates rose, marking the first significant uptick in days.  Rates moved lower on Monday and continued that direction through today.

Based on the most recent survey of bank mortgage rates performed by Findlocalmortgagerates.com, the average 30 year mortgage rate dropped down to 4.504% with .375 points.  The average 15 year mortgage rate was lower as well, drifting down to 3.975% with 0.35 points.

Results from the survey for the 30 year home loan at five of the largest bank mortgage lenders in the today’s mortgage rate survey included the following mortgage rates and terms:

Chase mortgage rates on the 30 year for Aug 31 came in at 4.625% with .125 points for an APR of 4.691%.

Wells Mortgage rates for a 30 mortgage had an interest rate of 4.25% with 1.0 point and a 4.403% APR.

Bank America mortgage rates were 4.625% and 1.0 point with an APR at 4.778% for the 30 year home loan.

SunTrust mortgage rates were 4.25% with 1.50 points and an APR of 4.407%.

TD mortgage rates for a 30 year home loan came in at 4.50% and zero points with a 4.542% APR.

Today’s mortgage rates and costs listed are current as of this publication date but are subject to change by the bank mortgage lenders and are not guaranteed.  All mortgage loans and mortgage interest rates listed require bank approval and bank underwriting. 

The mortgage rates listed are based on mortgage loan amount of approximately $250,000.00 with a 20% down payment.  Mortgage rates are dependent on the credit profile of the borrower, the down payment amount, property type and geographic location, these factors and others will impact a specific loan request and may alter the mortgage rate and costs.

The mortgage rates and points listed are just a sample of the rates from the survey and are just a sample of the many home loan programs and mortgage rates that are available from these bank mortgage lenders.