Headlines news, top bank mortgage lenders reduce mortgage rates. Hard to believe this statement isn’t really much of an attention grabber anymore but, for the week ending August 20, 2010 the top five bank mortgage lenders surveyed by Selectcdrates.com reduced their rates yet again.
Based on the most recent survey used to compare mortgage rates from the top banks, the average 30 year fixed mortgage rate loan dropped four basis points or 4/100’s of a percent for the week. The average 30 year mortgage rate from the top five bank mortgage lenders ended the week at 4.613%. The average 15 year mortgage rate was also down by four basis points, falling to 4.056% at week’s end.
The points charged to obtain the mortgage rates for both terms rose by less than one basis point, closing at an average of .338 points.
Lower mortgage rates from the top banks are about the only positive news coming from the banking industry as far as consumers are concerned. In fact, continued record low mortgage rates are about the only positive data regarding economic news in the past quarter.
The survey results from the compare mortgage rates survey for the 30 year home loan from the top ten bank mortgage lenders included:
Chase Mortgage rates actually moved higher on the week, rising to 4.875% and zero points and a 4.931% APR for the 30 year mortgage.
Wells Mortgage rates dropped measurably, falling to 4.25% and a 1.0 point origination fee resulting in a 4.403% APR.
US Bank mortgage rate for a 30 year loan was 4.50% and no points for a 4.564% APR.
Citibank mortgage rate was also higher on the week with a 30 year fixed rate mortgage at 5.125% with no points and a 5.261%.APR.
Bank of America mortgage rate ended at 4.875% with 1.125 points and a 5.032% APR on a 30 year.
SunTrust mortgage rate is 4.375% with 1.375 points for a 4.523% APR on a 30 year home mortgage.
TD mortgage rate dropped rather significantly to 4.50% and zero points for an APR of 4.542% on a 30 year term loan.
HSBC mortgage rate dipped down to 4.625% with no points and an APR at 4.762% for a 30 year loan.
Fifth Third Bank mortgage rate remained unaltered on a 30 year fixed mortgage at 4.375% with 0.375 points and a 4.460% APR.
Key Bank mortgage rate was down modestly to 4.625% with no points and a 4.765% APR for a 30 year term mortgage.
The bank mortgage rate survey compares mortgage rates form the top ten bank mortgage lenders in the nation to help borrowers find the best mortgage quickly and easily for home purchases or mortgage refinance transactions.
The mortgage rates and costs listed are current as of this publication date but 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 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.
Tags: 30 year mortgage rate, bank mortgage lenders, bank mortgage rate, Bank of America mortgage rate, Chase Mortgage Rates, Citibank mortgage rate, Compare Mortgage Rates, Fifth Third Bank mortgage rate, HSBC mortgage rate, Key Bank mortgage rate, mortgage rates, SunTrust mortgage rate, TD mortgage rate, US Bank mortgage rate, Wells Mortgage Rates
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