Bank Mortgage Lenders Rates May 24, 2010
The overall cost to obtain a 30 year fixed rate home loan was down slightly for the week ending May 21, 2010. The average 30 year mortgage rate form the top five bank mortgage lenders surveyed by Findlocalmortgagerates.com was unchanged at 4.85% while the average points charged to secure this rate was down five basis points or 5/100 of a percent to end the week at 0.60 points.
The overall cost to obtain a 15 year fixed rate home loan moved in the opposite direction and increased by a small margin for the week. The average 15 year mortgage rate was also unchanged at 4.225% while the points charged by the top five mortgage lenders increased by 7.5 basis points to close the week at 0.70 points on average.
This week’s mortgage rate survey results:
30 year mortgage rate average 4.85% with 0.60 points.
15 year mortgage rate average 4.225% with 0.70 points.
Previous week’s mortgage rate survey results:
30 year mortgage rate average 4.85% with 0.65 points.
15 year mortgage rate average 4.225% with 0.625 points.
The weekly mortgage survey results once again closely parallels the rate changes in the Treasury market. Treasury rates were lower once again with the ten year Treasury rate falling significantly more than shorter term Treasury rates which corresponds with the reduction in costs for the 30 year mortgage while the 15 year was up just slightly.
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.
The mortgage rates for the 30 year mortgage and 15 year mortgage from the individual bank mortgage lenders, the points charged and APRs were as follows:
Chase Bank’s mortgage division offers the 30 mortgage rate at 4.875% with 0.375 points and a 4.964% APR.
Chase offers the 15 year mortgage rate at 4.25% with 0.50 points and an APR of 4.420%
Bank of America Home Loans has the 30 year fixed mortgage rate at 4.750% with 1.375 points and a 4.917% APR.
Bank of America’s 15 year mortgage rate is 4.125% with 1.50 points and an APR of 4.431%.
Citibank’s mortgage operation markets the 30 year mortgage rate of 4.875% with 0.25 points and a 5.054% APR.
Citibank promotes a 15 year fixed rate mortgage with a mortgage rate of 4.250% with 0.50 points and a 4.629% APR.
Wells Fargo Home Loans markets their 30 year fixed home loan with a mortgage rate of 4.875% and 1.0 point for a 5.065% APR.
While the Wells Fargo Home Loans 15 year fixed rate is at 4.25% with 1.0 point and a 4.573% APR.
US Bank has a 30 year fixed rate loan with a mortgage rate of 4.875% and no points with a 4.941% APR.
The US Bank 15 year term mortgage rate is 4.250% and no points with a 4.361% APR.
The mortgage rates, points and APRs listed are subject to change and may be different depending on the credit, income, assets and property being purchased by the borrower. 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 30 year fixed rate and 15 year fixed rate mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed.
The bank mortgage lenders listed offer additional mortgage loan options including additional mortgage rate and point options. 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
For information on CD rates offerd by these banks, please visit our sister publication Selectcdrates.com and find Chase Bank CD rates, Citibank CD rates, Bank of America CD rates, US Bank CD rates as well as Wells Fargo CD rates.
Top FHA Mortgage Rates May 21, 2010
FHA mortgage rates have continued to move measurably lower this week and are now at the lowest rates for the year. Based on the current survey of FHA mortgage rates from Findlocalmortgagerates.com, the average 30 year fixed rate FHA loan has a mortgage rate of 4.700% with 0.575 points. The current FHA mortgage rate from the top five FHA bank mortgage lenders is down from last week’s average rate of 4.95% with 0.70 points.
FHA loans are government insured loans through the US Department of Housing and Urban Development. The Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) offer government insured mortgage loans through approved mortgage lenders. These home loans have features that usually make theses mortgage loans easier for first-time home buyers to obtain. The 30-year fixed rate mortgage remains one of the most popular loans for both conventional home financing and FHA loans.
Home loan borrowers who have existing FHA mortgages may want to consider the streamline refinance programs or conventional refinance programs for those borrowers interested in refinancing their existing VA or FHA Mortgage for a lower mortgage rate or to obtain cash out at these historically low mortgage rates.
The list below displays current FHA mortgage interest rates from the top FHA bank mortgage lenders in the U.S. including Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage.
Mortgage rates, points and closing costs may vary based on loan features, geography and/or other terms and conditions. Mortgage rates, points and closing costs are subject to change without notice.
The 30 year FHA mortgage rate at Bank of America Home Loans is now at 4.50% with 0.75 points with an APR of 4.607%.
Wells Fargo Home Loan offers the 30 year FHA mortgage rate at 4.75% with 1.0 point and an APR of 5.497%.
The current 30 year FHA mortgage rate with US Bank is at 4.625% with no points and a 5.271% APR.
SunTrust Bank has a 30 year FHA mortgage rate of 4.875% and 1.125 points with an APR of 5.083%.
HSBC Mortgage has dropped their 30 year fixed rate FHA home loan to 4.875% with no points and an APR at 5.067%.
All mortgage loans are subject to bank or mortgage lender approval. FHA mortgage rates listed are based on home loan amounts of approximately $200,000.00 for owner occupied, single family homes based in Illinois.
The mortgage lenders listed offer a variety of repayment terms and mortgage loan options for FHA loans as well as other mortgage loan programs. For more information on the mortgage lenders listed and current FHA mortgage rates, the contact numbers are:
Bank of America 800-586-9861
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
Top Five Mortgage Lenders 30 Year Mortgage Rates May 17, 2010
The average 30 year fixed rate mortgage from the top five bank mortgage lenders in the U.S. fell measurably for the week ending May 14, 2010 based on the recent mortgage rate survey performed by Findlocalmortgagerates.com. This is the second consecutive week of significant interest rate reductions in the mortgage market.
Mortgage rates from the top five bank mortgage lenders closed the week with an average mortgage rate of 4.850%. The average origination and discount points charged to obtain that rate rose moderately to 0.65 points. In the previous week, the average 30 year mortgage rate stood at 5.00% with 0.475 points.
The 15 year fixed rate loan was also lower for the week but by a smaller margin. The average 15 year fixed rate mortgage from the top five mortgage lenders was 4.225% with 0.625 points, down from the previous week’s average 15 year mortgage rate of 4.375% and 0.375 points.
This week’s results were once again were driven by financial market uncertainty which had pushed investment funds into safe and secure investments such as Treasury bonds and mortgage bonds. During the week of May 10th to May 14th, the ten year Treasury bond yield dipped from 3.57% to 3.44%. This was a drop of 13 basis points or 13/100 of a percent which closely matches the drop found in the 30 year mortgage rate.
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.
The mortgage rates for the 30 year mortgage and 15 year mortgage from these individual mortgage lenders and the points charged were as follows:
Chase Bank Mortgage’s 30 mortgage rate is 4.875% with 0.375 points and a 4.964% APR.
The 15 year mortgage rate from Chase Home Mortgage is at 4.25% with 0.25 points and an APR of 4.383%
Bank of America Home Loans offers the 30 year fixed rate mortgage at 4.750% with 1.5 points and a 4.920% APR.
Bank of America Home Loan’s 15 year mortgage rate is 4.125% with 1.375 point and a 4.40% APR.
Citibank has a 30 year mortgage rate of 4.875% with 0.375 points and a 5.076% APR.
Citibank’s 15 year fixed rate mortgage is at 4.250% with 0.50 points leading to a 4.629% APR.
Wells Fargo Home Loans has a 30 year fixed mortgage with a rate of 4.875% and 1.0 point for a 5.065% APR.
The 15 year fixed rate mortgage at Wells is at 4.25% with 1.0 point and a 4.573% APR.
US Bank’s 30 year fixed rate home loan comes with a mortgage rate of 4.875% and no points with a 4.941% APR.
A 15 year term mortgage at US Bank has a mortgage rate of 4.250% and no points with a 4.361% APR.
The mortgage rates, points and APRs listed are subject to change and may be different depending on the credit, income, assets and property being purchased by the borrower. 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. The 30 year fixed rate and 15 year fixed rate mortgage rates listed are believed to be accurate and current as of the date of this publication. Mortgage interest rates are not guaranteed.
The bank mortgage lenders listed offer additional mortgage loan options including additional mortgage rate and point options. 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
FHA Mortgage Rates Illinois May 11, 2010
As part of our weekly mortgage survey, Findlocalmortgagerates.com surveys mortgage rates from bank mortgage lenders across the U.S. for a variety of mortgage loan products. One of the key loan products measured are FHA home loans. Weekly FHA mortgage rates are published in these pages every Wednesday from the top five bank mortgage lenders and every other week we produce the rates from select banks for individual states.
Today’s data contains FHA mortgage rates in Illinois from two of the largest bank mortgage lenders, Wells Fargo Mortgage and Bank of America as well as two of the largest Illinois based banks, MB Financial Bank and First American Bank.
Current FHA mortgage rates offered by these bank mortgage lenders include:
Wells Fargo Mortgage offers a 30 year FHA loan with a mortgage rate of 5.000% with 1.0 point and an APR of 5.762%.
Bank of America markets a 30 year FHA with a rate of 4.75% and 1.0 point leading to a 4.892% APR.
MB Financial Bank promotes a 30 year FHA mortgage rate of 5.00% with no points and a 5.636% APR.
First American Bank has a 30 year fixed rate FHA loan rate of 5.00% and no points with an APR of 5.599%.
Mortgage loan APRs will vary due to points charged and other closing costs, FHA loan APRs will also vary due to the cost of monthly mortgage insurance and upfront mortgage insurance costs which are specific to FHA home loans.
An FHA loan can offer significant advantages for prospective home loan borrowers and existing homeowners looking to refinance their current mortgage loan. All of the loan programs listed are based on an FHA loan with a 3.5% down payment. FHA loans require a lower down payment than traditional, conventional loans. FHA loans also offer more flexible credit underwriting than conventional loans with little difference in interest rates and total costs.
The interest rates, annual percentage rates (APRs) and points shown are subject to change without notice. Mortgage rates and programs from these mortgage lenders may be subject to limitations. All loans and rates are subject to mortgage lender or bank approval.
Mortgage interest rates are published rates obtained from these lenders but are subject to variation based on borrower’s credit score, actual closing costs and other variables. Additional mortgage loan programs may be available.
To reach the listed mortgage lenders for current FHA mortgage rates and additional home loan information, representatives can be reached at the following phone numbers:
Wells Fargo Mortgage 877-937-9357
Bank of America 800-586-9780
First American Bank 847-952-3700
MB Financial Bank Mortgage Department 877-878-6262
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
FHA Mortgage Rate Survey May 5, 2010
Mortgage rates on 30 year FHA home loans were down rather significantly this week. Based on this week’s survey of FHA mortgage rates performed by Findlocalmortgagerates.com, the average FHA mortgage rate this week is 4.95%. This week’s average FHA rate is 12.5 basis points or 12/100 of a percent lower than the previous week’s FHA home loan rate of 5.075%.
The average points charged by the mortgage lenders in the survey to obtain this mortgage rate rose modestly to 0.70 points from the previous week’s average points of 0.625.
Reports on FHA loan volume continue to show an increased share of all loan originations are FHA loans. CNBC reported this morning that the figure is 50% of current home loans originated are FHA loans. FHA loans continue to offer flexible credit and qualifying standards as well as low down payments relative to the conventional mortgage market giving these loans a larger potential market to serve.
An additional significant factor in the rise in FHA loans is also the attractive mortgage interest rates and loan terms. The most recent survey on conventional 30 year fixed rate mortgages indicated an average rate of 5.10% and 0.475 points, modestly higher than the FHA loan rate.
FHA home loans are also not limited to first time home buyers and can be used to refinance an existing mortgage to lower the interest rate and payment, or save interest costs by shortening the term, or an FHA mortgage can even be used as a cash out refinance to help consolidate debt or pay for an education and more.
The largest FHA mortgage lenders in this week survey on 30 year fixed rate FHA mortgage rates included: Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage. For added comparisons of current FHA mortgage rates, the rates listed below also includes rates from TD Bank, which makes loans only in specific regions, and Bank of the West.
The current 30 year FHA mortgage rate at Bank of America Home Loans is 4.750% with 1.25 points and a 4.897% APR.
The current 30 year FHA mortgage rate at Wells Fargo Home Loan is 5.000% with 1.0 point with a 5.762% APR.
The US Bank FHA 30 year mortgage rate is at 5.00% with no points and an APR of 5.531%.
SunTrust Bank markets the 30 year FHA mortgage with an interest rate of 4.875% and 1.25 points with an APR of 5.449%.
HSBC Mortgage’s current 30 year fixed rate FHA home loan has a rate of 5.125% with no points and a 5.440% APR.
Bank of the West offers the 30 year FHA mortgage at 5.00% with 0.50 points for a 5.618% APR.
TD Bank has a 30 year FHA mortgage rate of 4.75% and no pints with an APR at 5.187%.
The mortgage interest rates, annual percentage rates (APRs) and discount points listed are current as of this publication but are subject to change without notice. The 30 year fixed rate FHA mortgage rates are based on home loan amounts of approximately $200,000.00 for owner occupied, single family homes based in Illinois. All mortgage loans are subject to bank or mortgage lender approval.
There are a variety of repayment terms and loan options available from these mortgage lenders. For more information on the mortgage lenders listed and current FHA mortgage rates, the contact numbers are:
Bank of America 800-586-9861
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
TD Bank 800-937-5020
Bank of the West 800-488-2265
Top Five Mortgage Lenders Rates May 3, 2010
Mortgage interest rates remained in neutral for the week ending April 30th, 2010. However, the average points charged to obtain this mortgage rate by the top five bank mortgage lenders decreased slightly for the week. Average mortgage rates and points are based on the weekly survey of the largest US bank mortgage lenders performed by Findlocalmortgagerates.com.
The average rate on a 30 year fixed rate mortgage loan ended the week at 5.10%, the same rate as in the previous week’s mortgage rate survey. The average points charged to obtain that rate was 0.475 points, down juts slightly from last week’s average points charged of 0.50 points.
The top five mortgage lenders in this week’s survey of the 30 year fixed rate mortgages includes 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 following data contains the results of the survey for these mortgage lenders for the 30 year home loan.
Chase Bank Mortgage has a 30 year fixed loan with a mortgage rate of 5.25% and 0.125 points and a 5.318% APR.
Bank of America Home Loans has the 30 year at 5.000% with 0.875 points witha 5.136% APR.
Citibank’s 30 year fixed rate mortgage is at 5.125% with 0.375 points and an APR of 5.329%.
Wells Fargo Home Loans has a 30 year fixed rate loan at 5.000% and 1.0 point for a 5.191%
US Bank’s 30 year fixed home loan at 5.125% and no points with a 5.192% APR.
The 30 year fixed rate home loan is the most popular mortgage financing option. This loan type generally gains in popularity when interest rates are low which narrows the difference in rates between adjustable rate mortgages and fixed rate loans. When rates are low, many borrowers also believe the most likely direction for mortgage rates in the future is higher and any advantage with the initial lower rate found in adjustable rate mortgages will be lost when rates increase and the adjustable rates adjust higher as well.
Many other mortgage loan options are available from these mortgage lenders including additional rate and point options for the loan types listed. The loan rates listed are for home purchase transactions, refinance rates may vary from purchase rates.
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
Jumbo Mortgage Rate Survey April 30, 2010
Jumbo mortgage rates inched down by the close of the week according to this week’s survey of jumbo mortgage rates completed by Findlocalmortgagerates.com.
The average 30 year fixed jumbo mortgage moved lower by 2.5 basis points, to 5.625 percent. A basis point is one-hundredth of a percentage point. The average points charged to obtain this rate was also lower. The average points charged by the mortgage lenders in this week’s survey dropped to 0.614 points from 0.664 points in the previous week.
Jumbo loans are also known as a non-conforming loan. Jumbo loans have balances that exceed the standards that would make it eligible for sale to Fannie Mae and Freddie Mac. The maximum amount is set annually. The 30 year fixed rate jumbo loans have interest rates that are guaranteed to remain fixed for the stated period of the loan.
Results of the survey results from the largest jumbo mortgage lenders included the following results:
Chase Mortgage’s 30 year fixed rate jumbo loan has a mortgage rate of 6.125% with 0.125 points and an APR of 6.167%. The APR is up slightly from the previous week with the mortgage rate unchanged and the points charged higher by .125.
Bank of America offers a 30 year fixed jumbo home loan with a mortgage rate of 5.500% with 0.875 points and a 5.627% APR. The mortgage rate was unchanged while the points charged dropped by 0.25.
Wells Fargo has a 30 year fixed rate jumbo loan with a rate of 5.500% and 1.0 point and a 5.643% APR. Wells Home Mortgage jumbo rate held constant for the week.
US Bank’s jumbo loan with a 30 year term that has a mortgage rate of 5.250% with1.0 point and a 5.408% APR. US Bank’s mortgage rate is lower by 0.125% from the previous week.
GMAC Mortgage offers a 30 year jumbo mortgage rate of 5.750% and 0.070 points and an APR of 5.777%. GMAC Mortgage rate is unchanged and the points charged are lower by 0.125 points.
APR calculation assumes a $500,000 loan amount with a 20% down payment for a single family, owner occupied home. Mortgage rates published are current as of this publication date. Mortgage interest rates are subject to change, and closing costs may depend on the individual mortgage loan qualifications.
For additional information on the mortgage rates listed, these bank mortgage lenders can reached at the following contact numbers:
Chase Mortgage 800-873-6577
Bank of America 800-990-6248
Wells Fargo Home Mortgage 877-937-9357
GMAC Mortgage 877-941-4622
US Bank 888-831-7524
FHA Mortgage Rates Survey April 28, 2010
FHA home loan rates were moderately higher this week, based on the weekly survey of FHA mortgage rates performed by Findlocalmortgagerates.com. The results of the survey were somewhat mixed as the mortgage rate rose moderately while the average points charged by the FHA mortgage lenders in the survey was slightly lower.
The average FHA mortgage rate on a 30 year fixed rate home loan in the survey was 5.075%, up from last week’s average rate of 5.050%. The average points charged to obtain that rate was 0.625 which is down from last week’s average points charged of 0.725.
The largest FHA mortgage lenders in the survey included: Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage. The interest rate spread between the highest mortgage rate and the lowest remains extremely narrow. The lowest rate was 4.87% while the highest mortgage interest rate came in at 5.25%. Points charged ranged from no origination or discount points to as high as 1.125 points.
The current FHA mortgage rates, points and APRs on a 30 year fixed rate home loan from the top five mortgage lenders included the following:
Bank of America Home Loans offers a 30 year fixed rate FHA loan at 4.875% with 1.125 points and a 5.041% APR.
Wells Fargo Home Loan has a rate of 5.125% with 1.0 point on their 30 year FHA loan with a 5.897% APR.
The US Bank FHA mortgage rate for a 30 year term is at 5.250% and no points with a 5.792% APR.
SunTrust Bank offers a 30 year FHA mortgage rate at 5.000% with 1.0 point with a 5.463% APR.
HSBC Mortgage’s 30 year fixed rate FHA loan is at 5.125% with no points and a 5.310% APR.
The mortgage rates and points listed are current as of this publication date but are not guaranteed and are subject to change. The FHA mortgage rates are based on mortgage loan amounts of approximately $200,000.00 for owner occupied, single family homes based in Illinois. All mortgage loans are subject to bank or mortgage lender approval.
For more information the mortgage lenders listed and current FHA mortgage rates, these mortgage lenders can be reached at the following numbers:
Bank of America 800-551-7975
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
Mortgage Rate Survey April 27, 2010
Mortgage rates moved mostly sideways during the past week based on the most recent survey of mortgage rates performed by Finidlocalmortgagerates.com. The average rate on a 30 year fixed rate home loan came in at 5.10% which is down from the prior week’s average 30 year fixed rate of 5.125%. While the base mortgage rate was down, the points charged to obtain this rate was up slightly. The average points charged on a 30 year fixed rate loan moved up from 0.375 points in the previous week to 0.500 points for the current week.
The average rate on the 15 year fixed rate home loan displayed a similar split in rate and point movement with the rate falling and the points charged increasing, though the rate decrease on the 15 year was more pronounced than that of the 30 year. The average 15 year fixed rate home loan came in at rate of 4.45% which is down from last week’s average rate of 4.60%. The points charged on average for the 15 year fixed rate loan was up modestly from 0.40 points to 0.45 points.
The top five mortgage lenders in this week’s survey included 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 following data contains the results of the survey for these mortgage lenders on the 15 year and 30 year home loan products.
Chase Bank Mortgage offers the 30 year fixed at 5.250% and no points with a 5.307% APR. The 15 year fixed rate home loan from Chase is at 4.625% with no points and a 4.721% APR.
Bank of America Home Loans has the 30 year at 5.000% with 1.0 point and a 5.136% APR. The 15 year at B of A is at 4.250% and 1.25 points with a 4.518% APR.
Citibank markets the 30 year is 5.125% with 0.50 points and an APR of 5.386%. Citibank markets the 15 year with a mortgage rate of 4.625% and no points resulting in a 4.910% APR.
Wells Fargo home Loans is offering the 30 year at 5.000% and 1.0 point for a 5.191% APR and the 15 year at 4.250% with 1.0 point and a 4.573% APR.
US Bank has a 30 year fixed home loan at 5.1250% and no points with a 5.192% APR while the 15 year at US Bank is at 4.250% with no points and a 4.612% APR.
Many other mortgage loan options are available from these mortgage lenders including additional rate and point options for the loan types listed. The loan rates listed are for home purchase transactions, refinance rates may vary from purchase rates.
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
NH Mortgage Rates April 26, 2010
Mortgage rates in New Hampshire have fallen modestly along with home loan rates across the nation. To compare mortgage rates in NH the following is a review of mortgage rates offered by Wells Fargo home Mortgage, one of the largest bank mortgage lenders, and Laconia Savings Bank, the largest bank in New Hampshire measured by assets.
Fixed rate mortgages are one of the most popular home loan options for buying a new home when rates are low as they are in this current rate environment therefore, the mortgage loans reviewed include the 30 year fixed as well as the 15 year fixed rate home loans.
The current 30 year fixed rate mortgage in New Hampshire offered Laconia Savings Bank is at 5.25% with no points and an APR of 5.280%. The 30 year fixed from Wells Fargo Home Loans is at 5.125% with 1.0 point and a 5.318% APR.
The 15 year fixed rate home loan from Laconia Savings Bank is at 4.500% with no points and an APR of 4.550%. Wells Fargo Home Loans is offering the 15 year fixed rate mortgage at 4.25% with 1.0 point and an APR of 4.573%.
The above mortgage rates in NH are based on a loan amount of $175,000.00 with a 20% or greater down payment for the purchase of a single family primary residence. Both of these bank mortgage lenders offer flexible home financing options to help purchase a new home. Other mortgage rate and point options are available for these term loans as well as other loan options from the mortgage lenders.
Mortgage rates are current as of this publication date but are not guaranteed. The NH mortgage interest rates, annual percentage rates (APRs) and points shown are subject to change without notice. Existing homeowners looking to refinance may find the refinance rates may vary from the purchase rates.
New home buyers can find assistance with a loan preapproval at either Laconia Savings Bank or Wells Fargo Home Loans. A preapproval is a written agreement from the mortgage lender indicating they will finance a home purchase up to a specific amount, subject to certain conditions.
For current mortgage rates from these NH mortgage lenders or additional information on their home loan products, Wells Fargo Home Loans can be reached at 877-937-9357 and Laconia Savings Bank can be reached at 800-832-0912.
Jumbo Mortgage Rates April 26, 2010
Jumbo mortgage rates were a mixed bag in this week’s survey of jumbo home loan rates performed by Findlocalmortgagerates.com. The average rate on a jumbo mortgage ended the week at 5.650 percent with 0.664 points. Jumbo rates are for loan amounts exceeding $417,000.
Survey results from the individual bank mortgage lenders for jumbo loan rates included:
Chase Mortgage is offering a 30 year fixed rate jumbo loan at 6.125% with no points and an APR of 6.155%. This rate is unchanged from previous week.
Bank of America’s jumbo home loan mortgage rate is 5.500% with 1.125 point resulting in a 5.627% APR. The mortgage rate is unchanged while the points charged increased by 0.125 points.
Wells Fargo Home Mortgage 30 year fixed rate jumbo loan has a mortgage rate of 5.500% and 1.0 point with an APR of 5.643%. The Wells Home Mortgage jumbo rate is Unchanged from the prior week.
US Bank has a jumbo loan with a 30 year term that has a mortgage rate of 5.375% and 1.0 point and a 5.534% APR. This mortgage rate is lower by 0.125% from last week’s rate.
GMAC Mortgage 30 year jumbo loan has a mortgage rate of 5.750% and 0.195 points and an APR of 5.7894%. GMAC Mortgage rate is 0.125% lower than the prior weeks rate offer as well.
The listed mortgage rates are for jumbo loan amounts of approximately $500,000.00 with a 20% down payment for a single family, owner occupied home. If the down payment is less than 20%, mortgage insurance may be needed on the loan. The cost of mortgage insurance could increase the monthly payment and the APR of the loan.
Mortgage rates published are current as of this publication date. Mortgage interest rates are subject to change, and closing costs depend on state regulations and on the individual mortgage loan qualifications. Many other mortgage options with varying rate and points are available from these lenders.
For additional information on the mortgage rates listed, these bank mortgage lenders can reached at the following contact numbers:
Chase Mortgage 800-873-6577
Bank of America 800-990-6248
Wells Fargo Home Mortgage 877-937-9357
GMAC Mortgage 877-941-4622
US Bank 888-831-7524
Current FHA Mortgage Rates April 22, 2010
The average rate for 30 year fixed rate FHA home loans were modestly lower this week based on the most recent survey of FHA mortgage lenders performed by Findlocalmortgagerates.com. The average FHA mortgage rate from the largest mortgage lenders was down by ten basis points or 10/100 of a percent for the week.
The average FHA mortgage rate this week stands at 5.05% with 0.725 points down from the prior week’s average FHA mortgage rate of 5.15% and 0.525 points.
The largest mortgage lenders in the survey includes: Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage. Of the largest mortgage lenders, three of the five reduced their mortgage rates while the other two lenders held their rates stable for the week.
The current FHA mortgage rates, points and APRs on a 30 year fixed rate loan from the top five mortgage lenders included the following:
The 30 year FHA mortgage at Bank of America Home Loans is now 4.875% with 1.0 point and a 5.021% APR. The 30 year fixed rate FHA Home loan at Wells Fargo Home Loan has a rate of 5.125% with 1.0 point and an APR of 5.897%. Bank of America reduced their rate from the previous week while Wells Fargo held their rate steady. Bank of America and Wells Fargo are by far the largest bank mortgage lenders by volume as of the close of 2009.
HSBC Mortgage has 30 year fixed rate FHA loan at 5.125% with no points and a 5.310% APR.
US Bank markets an FHA mortgage rate for a 30 year term at 5.250% and no points with a 5.792% APR.
SunTrust Bank’s 30 year FHA mortgage rate is now at 4.875% with 1.625 points resulting in a 5.484% APR.
FHA loans are available for first time buyers as well as other consumers purchasing a new home or seeking to refinance an existing home loan. FHA loans cannot be used for investment properties or second homes nor can a borrower have more than one FHA mortgage except under extraordinary circumstances.
The FHA mortgage rate survey results are based on mortgage loan amounts of approximately $200,000.00 for owner occupied, single family homes based in Illinois. The mortgage rates and points listed are current as of this publication date but are not guaranteed and are subject to change. All home loans are subject to bank or mortgage lender approval, additional conditions will apply.
For current FHA mortgage rates and loan terms from the FHA mortgage lenders listed, the following phone numbers may be used:
Bank of America 800-551-7975
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722