Continued bad news in the economy has resulted in good news for mortgage rates again this week. Mortgage rates are now at their best levels since the 30 year mortgage rate has been tracked. Both the 30 year fixed rate home loan and 15 year home loan fell for the week ending July 30, 2010.
The average 30 year mortgage rate from the top ten bank mortgage lenders surveyed by Selectcdrates.com ended the week at 4.638% down five basis points or 5/100 of a percent from the preceding week.
The average 15 year experienced a more dramatic drop, falling to 4.075% from 4.112% in the prior week.
The average points charged on the 30 year dropped along with rate, moving down to an average of .375 points. The 15 year showed a slight increase in the average points charged, rising to .3875 points on average.
The survey outcome from each bank in the compare mortgage rates survey from the top bank mortgage lenders for the 30 year fixed rate mortgage included:
Chase Mortgage rates on the 30 year came in at 4.75% and .125 points with a 4.8163% APR.
Bank of America mortgage rate was 4.625% with 1.125 points and a 4.778% APR on the 30 year mortgage.
Citibank mortgage rate for a 30 year term loan was 4.875% with zero points and an APR of 5.009%.
Wells Mortgage rate remained at 4.500% with 1.0 point and an APR of 4.686% for a 30 year.
US Bank mortgage rate for a 30 year home loan came in at 4.50% and no points for a 4.564% APR.
HSBC mortgage rate on a 30 year mortgage increased modestly to 5.00% with no points and an APR at 5.140%.
SunTrust mortgage rate was 4.375% with 1.125 points for a 4.501% APR for the 30 year loan.
TD mortgage rate ended at 4.625% and zero points for an APR of 4.652%.
Fifth Third Bank mortgage rate closed the week at 4.375% with 0.25 points and 4.471% APR on a 30 year term home loan.
Key Bank mortgage rate was also unchanged in the week with a rate of 4.75% with .125 points and an APR at 4.903%.
The mortgage rate survey results are current as of this publication date but all mortgage rates and costs are subject to change by the individual bank mortgage lenders. Mortgage loans listed require bank approval and bank underwriting.
There are many factors that affect mortgage rates and an individuals ability to be approved for a loan for specific loan requests.
The mortgage rates listed are based on mortgage loan amount of approximately $250,000.00 with a 20% down payment. Mortgage rates are dependent on the credit profile of the borrower, the down payment amount, property type and geographic location.
These rates may not fit a specific purchase of refinance situation and this is just a sample of the programs that are available from these lenders.
To find more information on Wells mortgage rates, Chase mortgage rates or US Bank mortgage rates refer to the Chase mortgage rates section, Wells mortgage rates section or US Bank mortgage rates section of Selectcdrates.com
To find information on regarding bank CD rates including Wells Fargo CDs, Citibank CDs, SunTrust Bank CDs, US Bank CD rates, Bank America CDs, HSBC CDs, Chase Bank CDs, Fifth Third Bank CDs, TD Bank CDs or Key Bank CDs refer to the Wells Fargo CD rates section, Citibank CD rates section, SunTrust CD rates section, US Bank CD section, Bank America CD rates section, HSBC CD rates section, Chase CD rates section, Fifth Third Bank CD rates section, TD Bank CD rates section or the Key Bank CD rates section of Selectcdrates.com.
Tags: 30 year mortgage rate, bank mortgage lenders, Bank of America mortgage rate, Chase Mortgage Rates, Compare Mortgage Rates, home loan, HSBC mortgage rate, mortgage loan, mortgage rates, SunTrust mortgage rate, US Bank mortgage rate, Wells Mortgage rate
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