Top Bank Mortgage Rates July 26, 2010
Bank mortgage rates for the 30 year and 15 year term home loan were a mixed bag in the past week. Mortgage rates for the 30 year were modestly higher while the 15 year was fractionally lower.
Findlocalmortgagerates.com survey of the top five bank mortgage lenders found that the mortgage rate on the 30 year loan was unchanged but the points charged to obtain the loan had risen marginally. The average 30 year mortgage rate ended the week at 4.75%, unchanged from the prior week and the average points charged to obtain that rate increased to .525 points from .475 in the previous week.
For the 15 year fixed rate mortgage, the average mortgage rate dropped from 4.20% to 4.175% and the average points charged in the survey increased from .45 to .525 points.
The Findlocalmortgagerates.com survey compares mortgage rates form the top five bank mortgage lenders in the nation to help consumers find the best mortgage and best mortgage rate quickly and easily.
Results from this week’s survey included the following bank mortgage rates, points and APRs on the 30 year and 15 year fixed rate home loan.
Chase Mortgage rates on a 30 year loan was 4.875% with 0.25 points and a 4.953% APR while the 15 year home loan rate was 4.375% and no points with a 4.471% APR.
Bank of America mortgage rates on the 30 year mortgage was 4.75% with 1.375 points for a 4.934% APR and the 15 year mortgage was 4.125% with 1.375 points and an APR of 4.440%.
Citibank mortgage rates were at 5.00% with no points for a 5.135% APR on the 30 and 4.375% with .25 points and a 4.679% APR for the 15 year mortgage.
Wells Fargo mortgage rate on a 30 year fixed rate home loan was 4.50% with 1.0 point and a 4.686% APR and 3.875% with 1.0 point and a 4.195% APR on 15 year mortgage loan.
US Bank mortgage rates were 4.625% with no points for a 4.690% APR on a 30 year fixed rate mortgage and 4.125% with no points for a 4.236% APR on the 15 year term mortgage.
The mortgage companies listed can help potential home loan borrowers find the best home loan that fits their needs. The banks listed offer a number of different mortgage rates and point options as well as a variety of additional home loans including FHA loans, adjustable rate mortgages, jumbo loans and more.
The bank mortgage rates found in the survey are current as of July 25, 2010 but are subject to change. The bank mortgage lender rates listed as well as the points and APRs may vary depending on the credit, income, assets and property being purchased by the borrower. All mortgage loans are subject to bank approval and additional conditions will apply.
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.
For more information on the above listed mortgage rates and loans, 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