Top Five Bank Mortgage Lender Rates March 30, 2010
The top bank mortgage lenders increased their 30 year fixed rate mortgages slightly for the week ending March 26, 2010 based on the weekly mortgage rate survey performed by Findlocalmortgagerates.com.
The 30 year fixed mortgage rate and point increase over the past week was relatively mild. The average 30 year fixed rate mortgage available from the top five largest bank mortgage lenders came in at 5.075% with .575 points. The current mortgage rate is an increase from the prior week’s average rate that stood at 5.075% and 0.575 points.
The weekly survey performed by Findlocalmortgagerates.com reviews the mortgage rates and home loan programs of the largest US based mortgage lenders. The top five largest U.S. bank mortgage lenders listed below are ranked based on assets and includes: Chase Bank, Bank of America, Citibank, Wells Fargo Bank and US Bank.
As small as the rate increase was, all of the top five bank mortgage lenders increased their mortgage rates and costs on the week. Mortgage rates and points are based on a conforming loan amount of approximately $200,000.00 with a 20% down payment on a single family home that is owner occupied. All bank mortgage rates are based on lender approval.
Chase Bank increased the cost on new mortgage loan to 5.250% with 0.375 points. Chase Bank had offered 5.250% with 0.125 points in the previous week.
Bank of America is currently offering a 30 fixed rate mortgage at 4.875% with 1.25 points up from last week’s mortgage rate of 4.875% and 0.75 points.
Citibank is at 5.125% and 0.50 points. At this time last week, Citibank promoted the 30 year fixed rate home loan on a $200,000 loan amount at 5.125% and 0.25 points.
Wells Fargo Home Loan markets the 30 year fixed rate home loan at 5.000% and 1.00 points, and increase in rate of 0.125% from the previous week’s rate of 4.875% with 1.00 point.
And US Bank has a 30 year fixed rate home loan with a mortgage rate of 5.125% and no points. This is an increase from the previous week’s figures of 5.00% and no points.
Recap of the current 30 year fixed rate mortgage loans by the top five bank mortgage lenders:
Chase Bank 5.250% and 0.125 points with an APR of 5.318%.
Bank of America 4.875% and 1.250 points and a 5.055% APR.
Citibank 5.125% with 0.50 points and a 5.386% APR.
Wells Fargo 5.000% and 1.00 point for a 5.191% APR.
US Bank is at 5.125% and no pints with an APR of 5.192%
The contact numbers for the listed banks to obtain current mortgage rates and loan information:
Chase Bank 800-873-6577
Bank of America 800-551-7975
Citibank 800-667-8424
Wells Fargo 877-937-9357
US Bank 888-831-7524
All mortgage rates and points listed are subject to change and all home loans would require bank approval. Additional mortgage rates and point options are available from these mortgage lenders.
All information is obtained from the bank mortgage lenders and is believed to be accurate and current as of the posted date. Mortgage loans and mortgage interest rates are not guaranteed.