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Current Mortgage Interest Rates – Downward Trend Reversed Today

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(Best Syndication News) Average mortgage rates were higher today with changes at several U.S. banks (see rate chart below).

30-Year Fixed Mortgage Rates

After four straight days of declines the average 30-year fixed rate mortgage (FRM) increased two basis points to 4.946 percent today. That would work out to monthly payments of $1253.79 on a loan of $235,000.

U.S. Bank raised their rate two points to 4.73 percent. Their 30-year VA loan was up 13 points to 5.23 percent.

Chase raised their rate two basis points to 4.96 percent. The bank also offers 20-year loans. That rate went up four points to 4.91 percent.

Bank of America raised their rate two points to 4.93 percent.

15-Year FRM and 5/1 ARM Rates

The average 15-year FRM jumped two points 4.385 percent. The product is 27 points higher over the last 100 days. Plugging that rate into a loan calculator give us payments of $1783.95 on $235,000 in principal.

Chase raised their 15-year rates two points to 4.37 percent.

Bank of America also raised their rate. The bank posted a rate of 4.27 percent, up 13 points from Monday.

The average 5-year adjustable rate mortgage (30-year term) jumped one point to 3.311 percent.

U.S. bank raised their rate four points to 3.51 percent. The bank also offers 3-year ARMS. That rate was up three points to 3.47 percent.

Jumbo Mortgage Rates

Jumbo loan rates were lower today. These loans do not conform to Fannie Mae and Freddie Mac standards. They are termed “non-conforming” and exceed the maximum loan limit.

The average 30-year jumbo loan rate decreased one point to 5.423 percent. This is a fixed term and fixed rate mortgage. The average 15-year jumbo decreased five points to 4.667 percent.

By: John Waters
Business Reporter

Best Syndication News Mortgage Survey
Tuesday 1 Day 5 Day 30 Day 100-Day 1 Week
01/18/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.946% Average 30 yr fixed 2 -3 11 36 4.95%
4.385% Average 15 year FRM 2 -5 9 27 4.39%
3.311% Average 5/1 ARM 1 -4 5 0 3.33%
5.423% 30 Yr Fixed Jumbo -1 -5 14 13 5.45%
4.667% 15 Yr Fixed Jumbo -5 -4 17 21 4.71%
1/18/11 U.S. Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.73% 30-Year Fixed 2 -13 15 4.74%
4.69% 20-Year Fixed 5 -22 11 4.71%
4.23% 15-Year Fixed 7 -13 18 4.24%
4.12% 10-Year Fixed 0 -5 -6 4.13%
5.27% FHA 30-Year 0 -9 17 5.29%
4.72% FHA 15-Year 13 -11 13 4.69%
5.23% VA 30-Year 13 -13 13 5.20%
4.85% VA 15-Year 0 -13 0 4.90%
3.47% 3-Year ARM 3 0 3 3.45%
3.51% 5-Year ARM 4 -4 4 3.50%
5.11% Jumbo 30-Year 0 -1 24 5.11%
4.52% Jumbo 15-Year -13 -15 23 4.65%
01/18/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
4.96% 30-Year Fixed Rate 2 -1 13 41 4.93%
4.91% 20-Year Fixed Rate 4 -5 8 40 4.89%
4.37% 15-Year Fixed Rate 2 -2 11 -1 4.35%
3.71% 7/1 ARM 5 -26 5 25 3.81%
3.36% 5/1 ARM 0 -15 -6 4 3.43%
01/18/11 Bank of America 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
4.93% 30-Year Fixed Rate 2 0 30 1 4.91%
4.27% 15-Year Fixed-Rate 13 -13 25 -13 4.24%
3.31% 3/1 ARM 0 0 12 -5 3.31%
3.26% 5/1 ARM Rate 0 -2 7 -3 3.27%
Certain Areas
4.895 30-Year Fixed Rate 2 1 29 -2 4.88%
3.145 5-Year ARM 0 -2 6 -14 3.15%
5.528 30-Year FRM int only 14 2 44 -24 5.44%
3.238 5-Year ARM, int only 0 0 11 -7 3.24%
* Average includes more banks than listed
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