Today’s Mortgage Rates August 18, 2010

Review today’s current mortgage interest rates from a variety of bank mortgage lenders.  The current national average 30 year mortgage rate now stands at 4.669 percent; this is a slight increase from the average rates on Friday, August 13 which ended at 4.619%.  The average origination and discount point charged by the bank mortgage lenders to obtain the rate fell from .40 points to .363 points.

The current 15 year mortgage rate is at 4.094 percent, and increase of eight basis points or 8/100 of a percent from Friday’s closing average mortgage rate of 4.011%.  The average points charged by mortgage lenders to obtain the 15 year mortgage rate were also down, drifting to .338 points on average from .413 points on August 13.

The weak economic recovery across the globe is keeping a cap on mortgage interest rates movements; however mortgage rates will change daily often experiencing just mild changes day to day with some of the movements pushing rates slightly higher even while the interest rate market in general has hardly budged.

Today’s mortgage rates survey covers the largest bank mortgage lenders in the nation, results for the 30 year home loan from three of the top ten bank mortgage lenders in the survey included:

Wells Mortgage rates on a 30 year fixed rate home loan was 4.25% and a 1.0 point with an APR of 4.403% and the 15 year mortgage rate was 3.75% with 1.0 point for an APR of 4.017%.

Bank of America mortgage rates for the 30 year was 4.875% with 1.0 point and a 5.014% APR and 4.25% with 1.0 point and a 4.49% APR on the shorter term, 15 year mortgage loan.

Chase Mortgage rates came in at 5.00% and .125 points with a 5.068% APR for the 30 year home loan and 4.50% with no points for a 4.709% APR on the 15 year.

Today’s mortgage rates are current as of this publication date but are subject to change by the bank mortgage lenders.  All home loan products and home loan rates are subject to mortgage lender approval.

The mortgage rates listed are based on mortgage loan amount of approximately $250,000.00 with a 20% down payment on a single family owner occupied property in California.  Mortgage rates are dependent on the credit profile of the borrower, the down payment amount, property type, geographic location, as well as additional conditions that will impact the loan approval as well as the mortgage rate.

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