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(Best Syndication News) Average mortgage rates were higher today with changes at several U.S. banks (see rate chart below).
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.
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 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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Important: The material on Best Syndication is for informational purposes only and is not meant to be advice. Authors may have or will receive monetary compensation from the company's product/s mentioned. You should always seek professional advice before making any legal, financial or medical decisions and this website cannot substitute or replace any trained professional consultation. |
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