Compare Mortgage Rates Sept 20th, 2010

Mortgage rates tumbled once again. The reduction in mortgage rates for the week ending October 1, 2010 was significant due to the magnitude of the rate drop off of already near record lows. Based on the current compare mortgage rates survey performed by Selectcdrates.com, both the 30 year and 15 year fixed rate mortgages dropped by over ten basis points or 10/100’s of a percent over the past week.

The average 30 year fixed rate mortgage fell by just over ten basis points or 8/100 of a percent, falling from 4.64 percent to the current level of 4.54 percent. The average 15 year fixed rate mortgage fell by more than 15 basis points, to close at 3.82 percent by week’s end.

Points charged to obtain these rates from the banks in the survey rose modestly for the both the 30 year home loan as well as the 15 year loan. The average mortgage points charged to obtain a 30 year mortgage rate loan moved up to 0.375 points and the average loan points charged for the 15 year mortgage moved up to .388 points.

The Selectcdrates.com compare mortgage rates survey compares some of the best current mortgage rates and home financing programs from some of the largest bank mortgage lenders. The compare mortgage rates survey lists the mortgage rates of the top ten bank mortgage lenders to help quickly and easily compare the rates from multiple lenders.

Results of the compare mortgage rates survey for the 30 year home loan included the following mortgage rates, points, and APRs from the top ten bank mortgage lenders:

Wells Mortgage rates on a 30 year loan dipped down to 4.125% and a 1.0 for a 4.277% APR.

Chase Mortgage rates for the 30 year dropped to 4.625% with 0.25 points for a 4.702% APR.

Bank of America mortgage rates were down by .25% to 4.125% and 1.125 points for a 4.286% APR.

US Bank mortgage rates were down by .125% to 4.50% and no points with an APR of 4.564%.

TD mortgage rates closed the week at 4.50% and zero points with a 4.542% APR on the 30 year mortgage loan.

SunTrust mortgage rates were lower on the week by .125% to 4.25% and 1.125 points and an APR of 4.375%.

Citibank mortgage rates on a 30 year loan ended at 4.75% with 0.25 points for a 4.928% APR.

Key Bank mortgage rates on the 30 year loan held steady at 4.50% with no points and a 4.638% APR.

Fifth Third Bank mortgage rates on the 30 year loan were also constant at 4.375% with zero points and a 4.450% APR.

HSBC mortgage rates remained at 4.625% with no points and an APR at 4.762% for a 30 year mortgage loan.

The bank mortgage rates and mortgage 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 rate obtained by a borrower from the mortgage lenders listed will depend on the loan amount, the down payment, the borrower’s credit profile and income as well as other factors.

The mortgage rates, points and APRs listed are based on mortgage loan amount of approximately $250,000.00 with a 20% down payment.

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

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: bank mortgage rates, Bank of America mortgage rates, Chase Mortgage Rates, Compare Mortgage Rates, Fifth Third Bank mortgage rates, HSBC Mortgage Rates, Key Bank mortgage rates, mortgage costs, mortgage rates, SunTrust Mortgage Rates, TD Mortgage Rates, US Bank Mortgage Rates, Wells Mortgage Rates

This entry was posted on Tuesday, October 5th, 2010 at 5:55 pm 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.