Compare Mortgage Rates from Bank Mortgage Lenders August 30th, 2010

Even with an abrupt increase in Treasury rates on Friday, mortgage rates fell once again for the week ending August 27, 2010. The compare mortgage rates survey prepared by Selectcdrates.com, which reviews the 30 year and 15 year mortgage rates form the top bank mortgage lenders, showed a reduction in both the average rate for the 30 year term home loan and 15 year term loan.

The 30 year mortgage rate ended the week at 4.583%, down from 4.613% from the previous week. The 15 year mortgage rate closed out at 4.049%, a reduction of less than one basis point or 1/100 of a percent from the prior week’s rate. Points charged by the top bank mortgage lenders to obtain these rates were identical. Both, the 30 year fixed rate mortgage and 15 year mortgage had an average of .35 points charged by lenders surveyed, which was slightly ahead of last week’s average points charged of .338.

While mortgage rates were lower for the week the 10 year Treasury rate moved on the opposite direction. The 10 year Treasury opened Monday with a yield of 2.62% and closed Friday at 2.66%. The two year Treasury started with a rate of 0.49% and jumped to 0.56% by the week’s end. This may indicate that mortgage rate will slightly higher in the coming days.

The survey results from the compare mortgage rates survey from the top bank mortgage lenders for the 30 year home loan ended the week with the following mortgage interest rates, points, and APR:

Wells Mortgage rates remained unchanged for the 30 year at 4.25% and a 1.0 and a 4.403% APR.

Chase Mortgage rates on the 30 year mortgage dropped by and 1/8th of a percent to 4.75% and 0.25 points for a 4.827% APR.

Bank of America mortgage rates for the 30 year term ended unchanged for the rate at 4.875% but dropped for the points charged to 0.75 points for a 5.005% APR.

US Bank mortgage rate for a 30 year loan was 4.50% and no points for a 4.564% APR.

Citibank mortgage rate fell to 4.875% with 0.125 points and a 5.031%.APR.

TD mortgage rates increased modestly for the week to 4.625% and zero points for an APR of 4.667% on a 30 year home loan.

SunTrust mortgage rate was predominantly unmoved with a 30 year mortgage rate at 4.375% with 1.25 points and a 4.512% APR.

HSBC mortgage rates held steady on the 30 year at 4.625% with no points and an APR at 4.762%.

Fifth Third Bank mortgage rate remained the same for the rate and dropped for the points charged to 4.375% with 0.125 points and a 4.428% APR.

Key Bank mortgage rates were down as well on the week with a 30 year mortgage of 4.58% with no points and a 4.72% APR.

The mortgage rates and costs listed are current as of this publication date but are subject to change by the banks listed and are not guaranteed. All mortgage loans and mortgage rates listed require bank approval and bank underwriting.

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, additional conditions will apply for loan approval.

To find more information on US Bank mortgages refer to US Bank mortgage rates section, for more inormation on Wells mortgage rates see Wells mortgage rates section, for information on Bank America mortgages refer to Bank America mortgage rates section, for information HSBC mortgage rates see HSBC mortgage rates and for more information on Chase Mortgage rates refer to section,Chase mortgage rates.

To find information on 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 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.

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