Bank Mortgage Rates February 7, 2011
Mortgage rates from the top bank mortgage lenders increased fairly significantly for the week ending February 4, 2011.
Mortgage rates have been trending higher but have remained in a very narrow range since the start of the year. Weekly mortgage rates changes have moved moderately week over week with end result leaving mortgage rates moderately higher than they were at the start of 2011. This week’s mortgage interest rate climb was more severe for both short term and long term mortgage loans.
Findlocalmortgagerates.com weekly rate survey indicated that mortgage rates from the top five bank mortgage lenders closed measurably higher for the both 30 year fixed rate home loan as well as the 15 year fixed rate loan.
The average rate for a 30 year fixed rate mortgage increased by over 25 basis points from the previous week’s close while the average 15 year mortgage rate increased by 15 basis points.
The average mortgage rate from the top five bank mortgage lenders for a 30 year fixed rate mortgage closed the week at 5.15 percent. The average mortgage rate from the top five bank mortgage lenders for a 15 year fixed rate mortgage closed the week at 4.30 percent.
The average points in the mortgage rate survey were unchanged for the 30 year term loan with an average of 0.475 points and the average points charged on the 15 year mortgage increased to 0.675 points.
Bank mortgage rates from the top five bank mortgage lenders in this week’s survey ending February 4th, 2011 included the following 15 year and 30 year mortgage interest rates, points charged and mortgage loan APR’s:
Citibank’s 30 year mortgage rates ended the week at 5.25% with 0.125 points and a 5.328% APR while the 15 year mortgage from Citibank closed at 4.375% with 0.375 points and a 4.542% APR.
The Chase Bank 30 year mortgage rate came in at 5.25% and 0.375 points for an APR of 5.341% and the 15 year mortgage rate was 4.375% with 0.375 points for an APR of 4.527%.
Wells Mortgage rates for a 30 year term increased to 5.125% with 1.0 point and a 5.287% APR while the 15 year term increased to 4.250% with 1.0 point and a 4.521% APR.
Bank of America mortgage rates for a 30 year loan was 5.000% and 0.875 points for a 5.118% APR and the 15 year mortgage rate was 4.125% with 1.625 point for a 4.443% APR.
US Bank mortgage rates rounded out the top five lenders and also had higher rates for the 30 year fixed rate loan and 15 year home loan. The US Bank 30 year mortgage rate closed at 5.125% and zero points and a 5.192% APR and the 15 year mortgage rate at US Bank ended at 4.375% with zero points and a 4.487% APR.
The mortgage interest rates, points and APRs listed are current as of the survey date on February 4, 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.
30 Year and 15 Year Mortgage Rates January 24th, 2011
Mortgage rates ended a multi week trend of lower rates and ticked up moderately for the week ending January 21, 2011. Both the 30 year fixed rate home loan and 15 year home loan from the top bank mortgage lenders ended the week higher.
The average mortgage rate for a 30 year term loan increased by seven basis points or 7/100’s of a percent. The average 30 year rate closed the week at 4.875 percent.
The average rate on the 15 year mortgage also increased by seven basis points for the week. The average 15 year mortgage rates from the top bank mortgage lenders ended at 4.175 percent.
The average points charged by the mortgage lenders in the survey were little changed week over week. The average points on the 30 year mortgage moved down slightly while the average points charged on the 15 year mortgage moved up slightly.
The average points on the 30 year rate dipped to 0.525 points from 0.55 points in the previous week. The average points charged on the 15 year mortgage moved up to 0.55 points from 0.50 points in the preceding week.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending January 21, 2010 included the following 15 year and 30 year mortgage interest rates, points and loan APR’s:
Chase Mortgage rates were unchanged for the week while the points charged moved up modestly. The Chase 30 year mortgage rate held at 4.875% while the points moved up to 0.50 points for an APR of 4.975%. The 15 year mortgage rate stayed at 4.25% with points rising to 0.375 points for an APR of 4.401%.
Bank of America mortgage rates increased to 4.750% and 1.0 point with an APR of 4.896% on the 30 year and 3.875% with 1.125 point for an APR of 4.143% for the 15 year term loan.
US Bank mortgage rates were higher on the 30 year and unchanged for the 15 year. The US Bank 30 year mortgage rate ended the week at 4.875% and zero points for a 4.941% APR and the 15 year mortgage rate closed at 4.25% with zero points and a 4.361% APR.
Wells Mortgage rates were higher for both the 30 year and 15 year. The Wells Mortgage 30 year rate ended at 4.875% with 1.0 point and a 5.034% APR and the 15 year mortgage ended at 4.250% with 1.0 point and a 4.521% APR.
The Citibank 30 year mortgage rate was 5.00% with 0.125 points and a 5.077% APR and a 15 year rate was 4.250% with 0.25 points for an APR of 4.398%.
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 21, 2011. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
Top Five Bank Mortgage Rates January 10th, 2011
Bank mortgage rates were moderately lower for the week ending January 7th, 2011 based on the most recent survey of bank mortgage rates performed by Findlocalmortgagerates.com. Based on the current survey, the average rate on the 30 year fixed rate mortgage was unchanged from the previous week while the average rate of the 15 year fixed rate home loan dipped down marginally.
The average 30 year mortgage rate from the top five bank mortgage lenders closed the week at 4.825 percent, a reduction of five basis points or 5/100’s of a percent from the preceding week. The average 15 year fixed rate mortgage ended at 4.225 percent or a drop of just three basis points from the prior week’s average rate of 4.25 percent.
The average points charged by the top five bank mortgage lenders to obtain these rates increased moderately for both loan terms. The average pints charged to obtain the 30 year mortgage rate stepped up to 0.375 points from 0.35 points the week earlier. The average points charged to obtain the 15 year mortgage rate was lifted to 0.50 points for 0.475 points preceding week.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending January 10, 2011 included the following 15 year and 30 year mortgage interest rates, points and loan APR’s:
Chase Mortgage rates for a 30 year and 15 year loan were unchanged for the week. The Chase 30 year mortgage rate remained at 4.875% with no points and a 4.931% APR while the 15 year mortgage rate held at 4.25% with 0.125 points and a 4.364% APR.
Bank of America mortgage rates changed very little over the week with the 30 year mortgage rate at 4.75% and 0.875 points with an APR of 4.867% and the 15 year mortgage rate at 3.875% with 1.125 points for an APR of 4.118%.
Citibank mortgage rates dropped slightly to 4.875% with zero points and a 4.941% APR on a 30 year mortgage rate and 4.250% with 0.25 points for an APR of 4.398% for the 15 year mortgage rate.
Wells Mortgage rates stayed in neutral with no week over week changes. The Wells Mortgage 30 year rate held at 4.750% with 1.0 point and a 4.908% APR while the 15 year mortgage rate from Wells Fargo remained at 4.250% with 1.0 point and a 4.521% APR.
US Bank mortgage rates also stayed in check with the US Bank 30 year mortgage rate holding at 4.875% and zero points with a 4.941% APR and the 15 year mortgage rate firmly planted at 4.375% with zero points and a 4.487% APR.
The most recent survey closed with bank rates lower or unchanged for a number of lending and savings products, not just bank mortgage rates. US Treasury rates also moved in a very narrow range for the week with shorter term rates unchanged, midterm rates dropping and longer terms rates closing marginally higher. For the past two weeks, mortgage rates have remained in a very narrow range ending a near two month rise in rates.
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.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: January 7th, 2011. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The Findlocalmortgagerates.com weekly mortgage rate survey is designed to provide quick information on current mortgage rates from the nation’s top bank mortgage lenders to allow potential home loan borrowers the ability to easily research mortgage interest rates and home loan costs. Additional mortgage rates and point options are available from the lenders in the survey including mortgage rates in other states and regions.
Bank Mortgage Rates December 27, 2010
Mortgage rates got reprieve by the time this week came to a close. Mortgage rates that have been steadily rising dropped down modesty for the week ending December 24, 2010. The 30 year fixed rate mortgage and 15 year fixed rate mortgage ended the week down by five basis points or 5/100’s of a percent.
The average 30 year bank mortgage rate from the top five bank mortgage lenders closed at 4.875 percent, down from the prior week’s average mortgage rate of 4.925 percent. The average 15 year bank mortgage rate closed at 4.25 percent, off of last week’s closing rate of 4.300 percent.
Points charged by the top bank lenders changed very little week over week. The average points charged to obtain the 30 year mortgage rate in the weekly survey increased to 0.575 points from 0.55 points in the earlier week and the average points charged to obtain the 15 year mortgage rate remained at 0.525 points.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending December 24, 2010 included the following 15 year and 30 year mortgage interest rates, points and loan APR’s:
Chase Mortgage rates dipped modestly to 4.875% with 0.25 points for a 4.953% APR on the 30 year mortgage and 4.25% with zero points and a 4.345% APR on a 15 year mortgage.
Bank of America mortgage interest rate on the 30 year held at 4.75% but dropped on the points charged to 1.125 points for an APR of 4.910% and the bank’s 15 year mortgage rate held at 4.125% with the pints moving down 1.125 points for an APR of 4.400%.
Citibank’s 30 year mortgage rate actually up ticked modestly for the week with the 30 year loan rising to 4.875% with 0.50 points and a 5.099% APR and the 15 year mortgage rate increased to 4.250% with 0.50 points for an APR of 4.629%.
Wells Mortgage rates were unchanged week over week with a 30 year mortgage rate of 4.875% with 1.0 point and a 5.034% APR and a 15 year mortgage rate of 4.250% with 1.0 point and a 4.521% APR.
US Bank mortgage rates dipped down to 5.00% and zero points with an 5.066% APR on a 30 year mortgage loan and 4.375% with zero points and a 4.612% APR for the 15 year mortgage rate.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: December 24th, 2010. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Information provided on the bank mortgage rates was obtained directly from the bank mortgage lenders listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
The Findlocalmortgagerates.com weekly mortgage rate survey is designed to provide quick information on current mortgage rates from the nation’s top bank mortgage lenders to allow potential home loan borrowers the ability to easily research mortgage interest rates and home loan costs.
Bank Mortgage Rates December 20, 2010
The battered mortgage rate market experienced another poor showing this past week. The 30 year fixed rate mortgage and 15 year fixed rate mortgage ended the week higher but fortunately, were off of their midweek highs with the help of a bond market rally that took place on Friday.
Mortgage rates closed the week up just five basis points or 5/100’s of a percent on the 30 year home loan and ten basis points for the 15 year loan. The average 30 year bank mortgage rate closed at 4.925 percent on December 17, 2010 while the average 15 year bank mortgage rate closed at 4.300 percent.
The average points charged by the lenders in this week’s bank mortgage lender survey displayed mixed results. The average loan points charged on the 30 year mortgage increased to 0.55 points and the average points on the 15 year mortgage dipped to 0.525 points.
Mortgage rates reached their highest point on Thursday before settling back down Friday. On Thursday the average 30 year mortgage rate from the top five bank mortgage lenders that are included in the Findlocalmortaggerates.com survey shot up to 5.05 percent or 13 basis points higher than where they are today.
The current bank mortgage rates from the top five bank mortgage lenders in the Findlocalmortgagerates.com weekly survey for the week ending December 17th included the following 15 year and 30 year mortgage rates, points and APR’s:
Chase Mortgage rates reached 5.00% with 0.25 points for a 5.079% APR on the 30 year mortgage and 4.375% with zero points and a 4.471% APR on a 15 year loan.
Bank of America mortgage rates on 30 year held at 4.75% but experienced an increase in origination points to 1.25 points for an APR of 4.914% while Bank of America’s 15 year mortgage rate increased to 4.125% with 1.25 points and a 4.408% APR.
Citibank’s 30 year mortgage rate came in at 4.875% with 0.25 points and a 5.054% APR and the 15 year mortgage rate remained 4.250% with 0.375 points for an APR of 4.591%.
Wells Mortgage rates were mostly unchanged with a 30 year mortgage rate of 4.875% with 1.0 point and a 5.034% APR and a 15 year mortgage rate of 4.250% with 1.0 point and a 4.521% APR.
US Bank mortgage rates bumped up to 5.125% and zero points with an APR of 5.192% on a 30 year mortgage loan and 4.500% with zero points and a 4.612% APR for the 15 year mortgage rate.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: December 17th, 2010. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Information provided on the bank mortgage rates was obtained directly from the bank mortgage lenders listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy.
The Findlocalmortgagerates.com weekly mortgage rate survey is designed to provide quick information on current mortgage rates from the nation’s top bank mortgage lenders to allow potential home loan borrowers the ability to easily research mortgage interest rates and home loan costs.
Top Five Bank Mortgage Rates December 6, 2010
Bank mortgage rates were higher again for the week ending December 3rd, 2010. The average 30 year mortgage interest rates and 15 year mortgage interest rates closed higher on the week as did the origination and discount points charged to obtain those rates.
The average 30 year fixed rate mortgage ended the week at 4.675 percent, an increase of five basis points or 5/100′s of a percent from the preceding week. The average 15 year mortgage rate closed out the week at 4.00 percent, an increase of just under three basis points from the prior week.
The average points charged to obtain the 30 year term mortgage ticked up modestly to 0.47 points while the average points charged to obtain the 15 year mortgage rate increased more measurably to an average of 0.525 points.
The current bank mortgage rates from the top five bank mortgage lenders found in the Findlocalmortgagerates.com survey for the week ending December 3rd included the following 15 year and 30 year mortgage rates, points and APR’s:
Chase Mortgage rates ended the week at 4.750% and 0.25 points and an APR at 4.827% for the 30 year term loan while the 15 year rate was 4.125% with 0.25 points and an APR at 4.257%.
Bank of America mortgage rates closed the week at 4.50% with 0.75 point and a 4.599% APR on the 30 year home loan and 3.750% with 1.0 point for a 3.965% APR on a 15 year home loan.
Citibank mortgage rates on the 30 year came in at 4.750% with 0.25 points and a 4.928% APR and 4.125% with 0.375 points for an APR of 4.465% on the 15 year mortgage.
Wells Mortgage rates were at 4.625% with 1.0 point and a 4.782% APR for a 30 year loan and 3.875% with 1.0 point and a 4.143% APR on the 15 year mortgage loan.
US Bank mortgage rates were unchanged on the week, the 30 year mortgage held at 4.75% with zero points and a 4.815% APR and the 15 year mortgage rate remained at 4.125% with zero points and a 4.236% APR.
The mortgage interest rates, points and APRs listed are current as of the mortgage rate survey date: December 3rd, 2010. Information provided on the bank mortgage rates was obtained directly from the bank mortgage lenders listed and are believed to be accurate and reliable when placed on this site, but we cannot guarantee their accuracy. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Findlocalmortgagerates.com publishes the bank mortgage rate survey to allow potential home loan borrowers the ability to quickly and easily research mortgage interest rates from some of the nation’s largest bank mortgage lenders.
More information on the mortgage loans and mortgage interest rates listed can be obtained by contacting the bank mortgage lenders directly:
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
Additional mortgage rates from these lenders can be found by contacting the bank mortgage lender directly. Mortgage lender rates available cover all states including: mortgage rates in Illinois, mortgage rates in Texas, mortgage rates in New York, mortgage rates in Florida, mortgage rates in Pennsylvania, mortgage rates in Ohio, mortgage rates in Michigan, mortgage rates in Georgia, mortgage rates in North Carolina, mortgage rates in New Jersey, mortgage rates in Virginia and more.
Bank Mortgage Rates November 15, 2010
Mortgage rates shot up at the end of last week just as the Fed started their purchase program of $600 billion in new Treasury bonds. Along with Treasury rates, mortgage rates moved higher almost in lock step with the Treasury rate increases.
At the end of the week, the ten year Treasury rate moved up from a yield of 2.58 percent on November 5th to 2.76 percent on November 12th, an increase of 18 basis points or 18/100’s of a percent.
Mortgage rates from the top five bank mortgage lenders closed higher for the week on both the 30 year fixed rate mortgage and 15 year fixed rate mortgage by almost the identical amount as the 10 year Treasury.
The 30 year fixed rate mortgage surveyed by Findlocalmortgagerates.com closed the week at 4.45 percent up from 4.225 percent in the previous week while the 15 year mortgage rate climbed to 3.850 percent from 3.625 percent during the preceding week.
The points charged by the bank mortgage lenders in the survey on these rates ended a hair lower for the 30 year mortgage and higher on the 15 year. The average mortgage loan points charged on the 30 year loan was 0.525 points as was the points charged on the 15 year loan.
The current bank mortgage rates tracked by Findlocalmortgagerates.com from the top five bank mortgage lenders for the week ending November 12th included the following 15 year and 30 year mortgage rates, points and APR’s:
Chase Mortgage rates were up more than the average with a 30 year loan at 4.625% and 0.25 points for a 4.702% APR and the 15 year mortgage rate at 4.00% with no points and a 4.095% APR.
Bank of America mortgage rates were moderately higher on the 30 year and considerably higher on the 15 year loan. The Bank of America 30 year mortgage rate ending the week at 4.250% with 1.25 point and a 4.403% APR and the 15 year mortgage rate at 3.625% with 1.50 points and a 3.932% APR.
Citibank mortgage rates jumped substantially on the 30 year and 15 year with the Citibank 30 year mortgage rate coming in at 4.625% with 0.125 points for a 4.779% APR and the 15 year mortgage rate moving to 4.125% with 0.125 points for an APR of 4.389%.
Wells Mortgage rates also moved more measurably on the 15 year as opposed to 30 with the 30 year rate closing the week at 4.25% with 1.0 point and a 4.403% APR and the 15 year mortgage rate ending at 3.625% with 1.0 point and a 3.891% APR.
US Bank mortgage rates had the slimmest increase in rates. The US Bank 30 year mortgage rate increased to 4.50% and no points with an APR at 4.564% and the 15 year inched up to 3.875% with no points and an APR of 3.985%.
The mortgage rates and points listed from the top five bank mortgage lenders are current as of the survey date, November 12th, 2010. Information provided on the bank mortgage rates are believed to be accurate and reliable when placed on this site, but we cannot guarantee it is accurate or complete or current at all times.
All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRs included in the survey are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Findlocalmortgagerates.com publishes the bank mortgage rate survey to allow potential home loan borrowers the ability to quickly and easily research mortgage interest rates from some of the nation’s largest bank mortgage lenders.
More information on the mortgage loans and mortgage interest rates listed can be obtained by contacting the bank mortgage lenders directly:
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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on these conditions and more.
Additional mortgage rates from these lenders can be found by contacting the bank mortgage lender directly. Mortgage lender rates available cover all states including: mortgage rates in Illinois, mortgage rates in Texas, mortgage rates in New York, mortgage rates in Florida, mortgage rates in Pennsylvania, mortgage rates in Ohio, mortgage rates in Michigan, mortgage rates in Georgia, mortgage rates in North Carolina, mortgage rates in New Jersey, mortgage rates in Virginia and more.
Refinancing Options Regardless of Mortgage Rates
Since the media has over zealously expounded on the issue of tighter bank lending standards, a number of homeowners that could refinance their existing mortgages are overlooking this option due to the concern over being denied for a new home loan.
While, it is difficult to refute the argument that bank mortgage lenders are more conservative in their home loan underwriting practices since the credit crisis began, this by no concludes that mortgage loans for refinance transactions are any more difficult to obtain than one for a purchase. In fact, quite the opposite is true. In general, mortgage loan approvals for a refinance transaction are easier to obtain than a purchase transaction.
A key difference between a mortgage refinance a mortgage for a purchase transaction from the mortgage lenders point of view is the equity in the home or down payment. A standard mortgage is evaluated based only a few factors, the most significant being the credit of the borrower, the income relative to the debt payments and the equity in the home.
The equity is measured by the loan to value. On a purchase, the loan to value is a reflection of the down payment amount where a 10% down payment would lead to a 90% loan to value. With a refinance the loan to value is the loan amount divided by the property value for example; a $100,000 loan request for a property worth $125,000 would have a loan to value of 80%.
Even with the recent reduction of property values over the past years, most homeowners find that their home is their most valuable financial asset and the mortgage they have is their largest debt. Consequently, reviewing the existing mortgage interest rate, monthly payment, mortgage balance and potential mortgage options is a prudent financial decision.
As part of the mortgage review, in order to assess the benefits and costs of a mortgage refinance, a variety of factors should be considered, including: mortgage interest rate, type of mortgage, expected holding period for the mortgage or home and tax consequences.
With mortgage rates at or near record low levels, homeowners that have not refinanced yet or purchased their home during the last period of low rates, should compare their mortgage rate with the current mortgage rates and measure this against the other loan factors such as the length of time to hold the loan and tax savings.
When evaluating the mortgage interest rates, note that mortgage interest rates charged on a home loan will vary greatly depending on the type of mortgage. Fixed rate mortgages offer the benefit of locking in a rate and knowing exactly what the monthly mortgage payments will be for the term of the mortgage. Generally the longer the mortgage term, the higher the mortgage rate. A 15 year term mortgage not only pays the home loan off in shorter time period but generally has a slightly lower interest rate as well.
When reviewing your mortgage options, be sure to factor in how long you intend to keep your home as well as your ability to handle potentially higher rates in the future with ARMs. If you plan to downsize and move to a smaller home in a few years, a 5 year ARM would provide a much lower interest rate than a traditional 15 or 30 year fixed rate mortgage.
For homeowners that itemize your tax deductions, the interest that is paid on a mortgage loan may be deductible. Refinancing a mortgage and taking cash out may provide the money to pay off higher rate loans, such as credit cards or auto loans, and provide a tax deduction as well.
It is possible that a refinance to maximize savings and improve finances can be accomplished in several ways, including:
Lowering the monthly mortgage payments.
Obtaining cash back by accessing the home equity.
Eliminating private mortgage insurance
Using equity to pay off high interest debts such as credit cards or loans.
Changing mortgage terms to pay off the home loan faster.
Switching loans to a fixed rate mortgage from an ARM or adjustable rate mortgage.
SunTrust Mortgage Rates November 10, 2010
SunTrust Mortgage is part of SunTrust Bank which is one of the top ten largest bank mortgage lenders in the nation. When comparing mortgage rates to apply for new home loan or mortgage refinance, a good starting point is to check with the largest bank mortgage lenders. SunTrust Mortgage rates remain competitive among the large bank mortgage lenders.
By doing a little bit of research on current mortgage rates from the top bank mortgage lenders it is easy to get an understanding of what mortgage loans, mortgage rates and costs are currently available in the mortgage market. FindLocalMortgageRates.com allows consumers to research mortgage interest rates from the largest mortgage lenders efficiently to help find the best mortgage interest rates available.
Current SunTrust mortgage rates include the following rates, points and APRs:
30 year fixed rate mortgage is at 4.250% with 1.125 points and an APR of 4.375%.
15 Yr fixed rate mortgage is at 3.625% with 1.875 points and a 3.950% APR.
5/1 adjustable rate mortgage has a rate of 2.875% and 1.25 points and an APR of 3.098%.
The 7/1 ARM is at 3.125% and 1.25 points for a 3.196% APR.
A 30 year FHA fixed rate loan has a mortgage rate of 4.125% and 2.375 points resulting in a 4.882% APR.
The 30 year jumbo loan at SunTrust Mortgage has rate of 5.250% and 1.25 points for a 5.388% APR.
The SunTrust Mortgage rates listed are for a single family, owner occupied home with a 60 day lock with a loan to value ratio of 80% or less. In order to obtain the listed rates, SunTrust mortgage applications have to be submitted online.
Actual mortgage rates may vary from those listed. SunTrust Mortgage rates will vary depending on a wide range of factors, including the borrower’s credit history, the loan amount, geographic location, down payment amount as well as additional loan underwriting factors..
Additional mortgage rates and point options are available from SunTrust Mortgage. The SunTrust Mortgage rates are subject to change, SunTrust Mortgage rates can change daily or in volatile markets even on an intraday basis
SunTrust Mortgage offers fixed and adjustable rate mortgages for conforming loan amounts and jumbo loans as well as FHA loans and VA home loans, loans for first time home buyers, home loans for refinances and more.
SunTrust Bank is one of the top ten largest banks in the U.S. The bank operates over 1,600 retail bank branches and 2,900 ATMs. Bank branches are located primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia.
To apply for a new mortgage loan or discuss current SunTrust Mortgage rates at SunTrust Mortgage, a mortgage customer service representative can be reached at 1-800-634-7928.
Bank Mortgage Rates November 8, 2010
Bank mortgage rates showed a modest decrease for the week ending November 5th, 2010. Mortgage rates from the top five bank mortgage lenders closed lower for both the 30 year fixed rate home loans and 15 year fixed rate loan.
The 30 year fixed rate mortgage from the top bank mortgage lenders closed the week at 4.225 percent while the 15 year mortgage rates dropped down to 3.625 percent at week’s end.
The average points charged by the banks were moderately higher for the 30 year and just a fragment lower on the 15 year mortgage.
The average points charged by the bank mortgage lenders on the 30 year were 0.55 points. The average points charged on the 15 year was 0.45.
The lowest of the mortgage rates today on the 30 year came from Wells Mortgage with a rate of 4.00 percent and 1.0 point. Wells Mortgage rate on the 15 year was also the low 15 year rate for the week at 3.25 percent with 1.0 point.
The current bank mortgage rates tracked by Findlocalmortgagerates.com from the top five bank mortgage lenders for the week ending November 6th included the following 15 year and 30 year mortgage rates, points and APR’s:
As stated above, Wells Mortgage rates on the 30 year is 4.00% with 1.0 point and a 4.151% APR and the 15 year mortgage rate was 3.25% with 1.0 point and a 3.514% APR.
Chase Mortgage rates dropped measurably on the week. The Chase mortgage rate for a 30 year loan moved down to 4.375% and 0.375 points for a 4.462% APR and the 15 year dipped to 3.875% with no points for a 3.969% APR.
Bank of America mortgage rates were modestly lower for the 30 year and appreciably lower on the 15. The Bank of America 30 year mortgage rate came in at 4.125% with 1.125 point and a 4.249% APR while the Bank of America 15 year mortgage rate was 3.375% with 1.125 points and a 3.596% APR.
US Bank mortgage rates dropped for 30 year and stayed pat on the 15. The US Bank 30 year mortgage rate was 4.25% and no points with an APR at 4.313% and the 15 year held at 3.75% with no points and an APR of 3.860%.
Citibank mortgage rates were lower on both terms. The Citibank 30 year mortgage rate was knocked down to 4.375% with 0.25 points for a 4.549% APR and the 15 year Citibank mortgage rate moved to 3.875% with 0.125 points for an APR of 4.137%.
The mortgage rates and points listed from the top five bank mortgage lenders are current as of the survey date, November 5th, 2010. Information provided on the bank mortgage rates are believed to be accurate and reliable when placed on this site, but we cannot guarantee it is accurate or complete or current at all times. All mortgage interest rates and costs are subject to change and all home loans will require bank approval.
The mortgage rates, points and APRsincluded in the survey are based on California properties with a loan amount of $250,000.00 and a 20% down payment.
Findlocalmortgagerates.com publishes the bank mortgage rate survey to allow potential home loan borrowers the ability to quickly and easily research mortgage interest rates from some of the nation’s largest bank mortgage lenders.
More information on the mortgage loans and mortgage interest rates listed can be obtained by contacting the bank mortgage lenders directly:
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
Mortgage rates and loan costs for a specific loan request may be affected by a number of factors including the credit, income and assets of the borrower as well as the geographic location and property type. The bank mortgage rates, points and APRs listed in the Findlocalmortgagerates.com rate survey may vary depending on these conditions and more.
Additional mortgage rates from these lenders can be found by contacting the bank mortgage lender directly. Mortgage rates available include: mortgage rates in Illinois, mortgage rates in Texas, mortgage rates in New York, mortgage rates in Florida, mortgage rates in Pennsylvania, mortgage rates in Ohio, mortgage rates in Michigan, mortgage rates in Georgia, mortgage rates in North Carolina and more.