Top Bank Mortgage Rates February 14, 2011
While the U.S government struggles on how to reform housing finance with FNMA and FHLMC, bank mortgage rates pushed on ahead with another week of rising rates. Thankfully this most recent rate increase was comparatively mild.
Mortgage rates from the top bank mortgage lenders increased by just a few basis points on the 30 year home loan but increased more significantly on the 15 year term loan. These rate changes reflected actions in bond market where prices on long term bonds were little changed on the week while midterm bond prices dipped rather substantially pushing bond rates higher for shorter term mortgage loans.
Findlocalmortgagerates.com weekly mortgage rate survey indicated that mortgage rates from the top five bank mortgage lenders on the 30 year fixed rate home loan increased to 5.175 percent from 5.150 percent the week earlier.
The rate on the 15 year fixed rate loan leaped by more than 12 basis points moving up to 4.425 percent from 4.30 percent in the previous week.
The weekly survey has been expanded to include 20 year mortgage rates and FHA mortgage rates. The average 20 year mortgage rate ended the week at 5.025 percent and the for a 30 year FHA mortgage rate closed out at 4.975 percent.
The average points by the bank mortgage lenders in the survey were up slightly for the 30 year term loan with an average of 0.525 points while the average points charged on the 15 year mortgage dropped down to 0.45 points.
Bank mortgage rates from the top five bank mortgage lenders in this week’s mortgage rate survey ending February 11, 2011 included the following 15 year and 30 year mortgage interest rates, points charged and mortgage loan APR’s:
Wells Mortgage rates came in at 5.125% with 1.0 point and a 5.287% APR on the 30 year mortgage while the Wells Mortgage 15 year loan had a rate of 4.375% with 1.0 point and a 4.647% APR.
US Bank mortgage rates for the 30 year loan closed at 5.250% and zero points and a 5.317% APR and the 15 year mortgage rate ended at 4.500% with zero points and a 4.612% APR.
Bank of America mortgage rates for a 30 year loan was 5.000% and 1.0 point for a 5.138% APR and the 15 year mortgage rate was 4.250% with 0.875 point for a 4.467% APR.
Citibank’s 30 year mortgage rates ended at 5.25% with 0.25 points and a 5.339% APR while the 15 year mortgage rate with the bank was 4.500% with 0.25 points and a 4.649% APR.
Chase Bank mortgage rates for the 30 year were 5.25% and 0.375 points for an APR of 5.341% and the 15 year mortgage rate was 4.500% with 0.125 points for an APR of 4.615%.
The mortgage interest rates, points and APRs listed are current as of the survey date on February 11, 2011. All mortgage interest rates, points and APRs are subject to change and all home loans require bank approval.
The mortgage interest rates, points and APRs included in the survey are retrieved directly from the bank mortgage lenders based on a California single family purchase with a loan amount of $250,000.00 and a 20% down payment. The bank mortgage rates listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
Additional mortgage rates and point options are available from the lenders in the survey including mortgage rates in other states and regions from mortgage rates in California to mortgage rates in Illinois, mortgage rates in Florida, mortgage rates in Ohio, mortgage rates in Maryland and more.
Bank Mortgage Rates January 31st, 2011
Mortgage rates from the top five bank mortgage lenders ended with mixed results on the week. Average mortgage rates moved higher for the 30 year term home loan and lower for the 15 year loan.
The average mortgage rate from the top five bank mortgage lenders for a 30 year fixed rate mortgage closed the week at 4.89 percent, an increase of two basis points or 2/100’s of a percent from the prior week.
The average 15 year mortgage rate ended at 4.15 percent which was reduction of two basis points from the previous week’s average 15 year rate of 4.175 percent.
The average points charged to obtain these rates were lower on the 30 year and unchanged for the 15 year. The average points on the 30 year mortgage dropped to 0.475 points from 0.525 points in the earlier week. The average points charged on the 15 year mortgage held steady with an average of 0.55 points
Bank mortgage rates from the top five bank mortgage lenders in this week’s survey included the following 15 year and 30 year mortgage interest rates, points charged and mortgage loan APR’s:
Wells Mortgage rates were unmoved for a 30 year term and slightly lower on the 15 year term. The Wells Mortgage rate for the 30 year held at 4.875% with 1.0 point and a 5.034% APR and the 15 year mortgage dipped to 4.125% with 1.0 point and a 4.395% APR.
Bank of America mortgage rates increased on the 30 year and fell for the 15 year. The B of A 30 year rate was 4.750% and 1.125 points for a 4.916% APR and the 15 year rate at that bank was 3.875% with 1.0 point for a 4.138% APR.
Chase Mortgage rates followed the Bank of America theme with a higher rate on the 30 year term and a lower rate for the 15 year. The Chase 30 year mortgage rate came in at 4.875% and 0.25 points for an APR of 4.953% while the 15 year mortgage rate was 4.125% with 0.625 points for an APR of 4.313%.
US Bank mortgage rates ended higher for both term loans with the US Bank 30 year mortgage rate at 4.95% and zero points and a 5.016% APR and the US Bank 15 year mortgage rate was 4.375% with zero points and a 4.487% APR.
Citibank mortgage rates ended lower for the 30 and 15 year loan on the week. The Citibank 30 year mortgage rate was 5.00% with 0.0 points for an APR of 5.066% and the Citibank 15 year rate was 4.250% with 0.125 points for an APR of 4.379%.
The mortgage interest rates, points and APRs listed are current as of the survey date on January 28, 2011. All mortgage interest rates, points and APRs are subject to change and all home loans require bank approval.
The mortgage interest rates, points and APRs included in the survey are retrieved directly from the bank mortgage lenders based on a California single family purchase with a loan amount of $250,000.00 and a 20% down payment. The bank mortgage rates listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
Additional mortgage rates and point options are available from the lenders in the survey including mortgage rates in other states and regions from mortgage rates in California to mortgage rates in Illinois and mortgage rates in Florida.
Top Five Bank 30 Year Mortgage Rates January 17th, 2011
Bank mortgage rates ended the week of January 14th, 2011 lower once again. The average 30 year mortgage rate from the top five bank mortgage lenders managed to squeeze out a small reduction in rate while the average 15 year mortgage rate from the top five bank mortgage lenders made a more substantial rate reduction for the week.
The average 30 year mortgage rate ended the week at 4.800 percent. The average 30 year rate is just over two basis points or 2/100’s of percent lower than the week earlier.
The average 15 year mortgage rate closed the week at 4.100 percent which is a drop of just over 12 basis points from the preceding week.
The average points charged on the 30 year mortgage moved noticeably higher. The average points charged by the top five bank mortgage lenders to obtain the 30 year rate increased to an average of 0.55 points from 0.375 points in the previous week.
The average points charged to obtain the 15 year mortgage rate was unchanged. The average points on the 15 year remained at an average of 0.50 points.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending January 14, 2010 included the following 15 year and 30 year mortgage interest rates, points and loan APR’s:
US Bank mortgage rates dropped by .125 percent for the 30 year and 15 year fixed rate mortgage with the 30 year mortgage rate from US Bank now at 4.75% and zero points and a 4.815% APR and the 15 year mortgage rate at 4.25% with zero points and a 4.361% APR.
Wells Mortgage rates were unchanged for the 30 year term loan with the Wells Mortgage 30 year rate holding at 4.750% with 1.0 point and a 4.908% APR and dipped down on the 15 year mortgage to 4.000% with 1.0 point and a 4.269% APR.
Citibank mortgage rates were lower on both terms with a Citibank 30 year mortgage rate at 4.875% with 0.875 points and a 5.018% APR and a 15 year rate of 4.125% with 0.50 points for an APR of 4.310%.
Bank of America mortgage rates was almost imperceptible for the week. The Bank of America 30 year mortgage rate held at 4.75% and 0.875 points with an APR of 4.878% and the 15 year mortgage rate was down fractionally to 3.875% with 1.0 point for an APR of 4.114%.
Chase Mortgage rates were also just fractionally lower. The Chase 30 year mortgage rate was unaltered at 4.875% with no points and a 4.931% APR while the 15 year mortgage rate dropped to 4.25% with no points and a 4.345% APR.
Mortgage rates have moved moderately lower since the start of 2011. Mortgage rates continue to remain in a fairly narrow range, although the overall trend for interest rates has been toward the down side for the year.
The mortgage interest rates, points and APRs included in the survey are retrieved directly from the bank mortgage lenders based on a California single family purchase with a loan amount of $250,000.00 and a 20% down payment. The bank mortgage rates listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
Additional mortgage rates and point options are available from the lenders in the survey including mortgage rates in other states and regions from mortgage rates in California to mortgage rates in Illinois and mortgage rates in Florida. Call the listed lenders to find the best mortgage rates in your state.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: January 14th, 2011. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
Compare California Mortgage Rates
With mortgage rates in California dropping to record lows more consumers are searching and comparing mortgage rates in CA to calculate the costs of home ownership and refinances for existing home loans. With home prices down and rates at historic lows, the costs of home ownership has continued to fall. With these current low mortgage rates in CA, refinancing a home loan can be an excellent way to shorten the term of a loan or simply take advantage of a lower interest rate.
In order to facilitate home loan shopping, Findlocalmortgagerates.com has surveyed four bank mortgage lenders in California to compare mortgage rates quickly and easily. Two of the largest U.S bank mortgage lenders and two of the largest California based bank mortgage lenders were included in the survey. The CA mortgage rates in the survey came from Bank of America and Wells Fargo representing two of the top five largest banks in the nation and California Bank and Trust and Citizens Business Bank, the 9th and 13th largest California based banks.
Citizens Business Bank offers a 30year fixed rate mortgage in California at 4.34% with 1.0 point and a 4.458% APR.
The bank offers the 15 year term mortgage with a rate of 3.875% and .625 points for a 4.024% APR.
California Bank & Trust promotes a 30 year mortgage rate at 4.25% with .375 points with an APR at 4.305%
The 15 year mortgage rate in CA from California Bank & Trust is at 3.75% with .375 points and a 3.843% APR.
Bank of America mortgage rates in CA for the 30 year is at 4.625% with .875 points resulting in a 4.726% APR and a 15 year mortgage rate in CA at 3.875% and 1.125 points for a 4.089% APR.
Wells mortgage rates in CA includes the 30 year with a rate of 4.50% with 1.0 point and a 4.644% APR and 15 year mortgage rate at 3.75% also with 1.0 point and an APR at 3.997%.
The mortgage rates in CA listed are for loan amount of $350,000.00 with a 25% down payment on a single family owner occupied property. All loans and mortgage rates are subject to bank underwriting and bank approval. Mortgage rates are current as of this publication date but are subject to change at anytime.
These are just a few of the mortgage programs and mortgage rates available. Which option is best for any individual borrower depends on their own specific goals and needs.
California Bank & Trust has over 105 bank branches in CA. California Bank & Trust is a subsidiary of Utah-based Zions Bancorporation California Bank & Trust mortgage department can be reached at 800-850-8690.
Citizens Business Bank has 41 business financial centers plus 5 commercial banking centers in the Inland Empire, Los Angeles County, Orange County and the Central Valley areas of California. Citizens Business Bank mortgage services can be reached at 877-207-9827.
Wells Fargo mortgage loan officers are available at 877-937-9357.
Bank of America mortgage customer service is at 800-586-9861.
Mortgage Rates in California with Bank of the West
Bank of the West is the second largest bank based in California ranked by assets. Bank of the West offers a plethora of consumer deposit and loan products in the state including mortgage loans in California with competitive mortgage rates.
Bank of the West provides a number of home loan products to choose form including fixed rate loans, adjustable rate loans and FHA loans.
Fixed rate mortgages through Bank of the West come with a variety of repayment terms.
The fixed rate loans have fixed principal and interest payments for the life of the loans and come with a reduced rate option with the bank’s Relationship Pricing which is available to qualifying Bank of the West customers.
The Bank of the West adjustable rate mortgages have an initial interest rate that is often lower compared to fixed rate mortgages but may change due to current market conditions or interest rates. These mortgage loans are also available with the bank’s Relationship Pricing which is available to qualifying Bank of the West customers.
The mortgage interest rate on the adjustable rate loans will have rate changes on the loans that are capped depending on loan program and the loans do not have negative amortization provisions so the principal balance cannot increase. The adjustable rate mortgages come with a variety of loan options and rates.
Bank of the West continues to offer competitive rates on FHA Loans. These loans have a several different loan terms and interest rates. FHA loans also have flexible credit and qualifying standards.
Current mortgage rates in California offered by Bank of the West include the following:
A 30 year fixed rate home loan with a mortgage rate of 5.00% and no points and an APR of 5.082%.
The 30 year loan with 1.0 point has a mortgage rate of 4.875% and an APR of 5.001%.
A 15 year fixed rate loan in California offered by the bank has a mortgage rate of 4.75% and no points with a 4.891% APR.
A 3/1 adjustable rate mortgage has a mortgage rate in California of 4.125% with no points and a 3.422% APR.
The 5/1 ARM which has a fixed rate period of five years as opposed to 3 years that is on the 3/1 ARM, also has a mortgage rate of 4.125% with no points and a 3.553% APR.
The California mortgage rates and fees listed are available to borrowers with an excellent credit history on owner occupied single family properties with a 20% or greater down payment. The actual mortgage interest rate and fees available to a borrower will be based on their credit history and other qualifying conditions.
The California mortgage interest rates, annual percentage rates (APRs), and points listed are subject to change without notice and assume the Bank of the West Relationship Pricing. The bank Relationship Pricing requires applicants to maintain a Bank of the West personal checking account with a debit card and automatic electronic mortgage payments.
All home loans in California are subject to bank approval and underwriting. For current mortgage rates and additional loan information on Bank of the West Products, the main customers service number is 800-488- 2265 or a new loan request can be called into the bank at 800-563-1852.
Bank of the West has 700 retail bank branch locations in 19 states including California.