Today’s Mortgage Rates August 20, 2010
Today’s mortgage rates for August 20, 2010 moved lower once again. The average 30 year mortgage rate surveyed by Findlocalmortgagerates.com dropped down to 4.613%. Today’s 30 year mortgage rate is five basis points lower than the last survey on Wednesday August 18 when the average 30 year rate was 4.669%. Today’s 15 year mortgage rate was lower as well, falling to 4.044%.
The average points needed to obtain these mortgage rates edged up slightly with the average points charged on for the 30 year rising to .40 points and the average points charged for the 15 year increasing to .375 points.
Mortgage rates continued to drift lower as well the week progressed along with other bond rates and bank rates. The ten year Treasury bond drifted down from 2.64% on Wednesday to close at 2.62% by the close of Friday. The two year Treasury bond made a similar drop, coasting down from .51% on Wednesday to 0.49% on Friday.
Today’s mortgage rates survey from Findlocalmortgagerates.com covers the largest bank mortgage lenders in the nation including; Chase Mortgage, Bank of America, Wells Fargo, Citibank, US Bank, SunTrust Mortgage, Key Bank, Fifth Third Bank, HSBC Mortgage and TD Bank.
Results for the 30 year home loan from three of the top ten bank mortgage lenders in today’s mortgage survey included:
SunTrust mortgage rates had a 30 year at 4.375% with 1.375 points and an APR of 4.523% while the 15 year from SunTrust was 3.75% with 1.25 points and a 3.983% APR.
Wells Mortgage rates for a 30 year fixed rate mortgage was 4.25% with 1.0 point and a 4.571% APR and the 15 year home loan rate was 3.75% with 1.0 point and a 4.090% APR.
US Bank mortgage rates for a long term 30 year fixed rate mortgage is 4.50% and zero points with a 4.564% APR loan while the short term 15 year term loan is at 3.875% with no points for a 3.985% APR.
Today’s mortgage rates are current as of this publication date but are subject to change by the bank mortgage lenders listed. 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.