Compare Mortgage Rates Sept 13th, 2010

In spite of higher Treasury rates, mortgage rates moved slightly lower for the week ending September 10, 2010. Mortgage rates have continued to remain low throughout the summer months but those low rates may just be on the verge of a turning point with Treasury rates heading higher across almost all maturities. .

Mortgage backed security prices generally, closely follow the movement of the ten year Treasury bond. This past week was a bit of an exception with Treasury prices falling more than mortgage backed security prices. Mortgage backed security prices will force mortgage interest rates in the opposite direction. If mortgage backed security prices dip, 30 year fixed mortgage rates will rise and vice versa.

Based on the most recent survey of bank mortgage rates performed by Selectcdrates.com, current 30 year fixed mortgage rates average 4.619%, down one basis point or 1/100’s of a percent from the previous week.

The average 15 year mortgage rate ended the week at 4.04%, also down one basis point from the prior week’s average rate of 4.05%

The average points charged to obtain these mortgage rates by the bank mortgage lenders in this week’s survey moved in opposing directions. The average points for the 30 year mortgage rate dropped to .338 from.363 points while the points charged for a 15 year mortgage rate moved higher to 0.413 from.388 points in the previous week.

Based on the most recent compare mortgage rates survey, the top bank mortgage lenders for the 30 year home loan offered the following mortgage rates, points, and APRs:

TD mortgage rates were 4.625% and zero points with a 4.667% APR on the 30 year mortgage loan, unchanged from the prior week.

SunTrust mortgage rate moved sideways with the 30 year rate down to 4.375% while the points charged increased to 1.375 points and an APR of 4.523%.

Wells Mortgage rates were also unchanged on the 30 year with the rate holding at 4.375% and a 1.0 for a 4.530% APR.

Chase Mortgage rates held on the rate and pushed just slightly higher on the points with a 30 year at 4.875% and 0.125 points for a 4.942% APR.

Bank of America mortgage 30 year mortgage rate dipped down to 4.625% and 0.875 points for a 4.746% APR.

US Bank mortgage rates held firm on the 30 year loan at 4.625% and no points with an APR of 4.690%.

Citibank mortgage rates were slightly higher with the rate rising to 4.875% with no points to points resulting in a 5.009%.APR.

HSBC mortgage rates were unmoved once again, with the 30 year mortgage rate at 4.625% with no points and an APR at 4.762%.

Fifth Third Bank mortgage rates were a mixed bag with the 30 year rate up to 4.50% with zero points and a 4.564% APR.

Key Bank mortgage rates were firm on the week, a 30 year mortgage rate from Key came in at 4.69% with no points and a 4.831% APR.

The bank mortgage lender mortgage rates and costs listed are current as of this publication date but are subject to change 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. These conditions can impact the mortgage rate and costs.

To find more information on Wells mortagge rates, SunTrust mortagge rates, Bank America mortagge rates, Chase mortgage rates or TD mortgage rate refer to the Wells mortgage rates section SunTrust mortgage rates page Bank America mortgage rates page Chase mortgage rates page or the TD mortgage rates page of Selectcdrates.com.

Tags: 30 year mortgage rate, bank mortgage lenders, bank mortgage rates, Bank of America mortgage, Chase Mortgage Rates, Compare Mortgage Rates, Fifth Third Bank mortgage rates, HSBC Mortgage Rates, Key Bank mortgage rates, mortgage rates, SunTrust mortgage rate, TD Mortgage Rates, treasury rates, US Bank Mortgage Rates, Wells Mortgage Rates

This entry was posted on Monday, September 13th, 2010 at 9:53 am and is filed under Compare Mortgage Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.