Current Mortgage Rates Today Lower Again – Changes at Citibank Chase and SunTrust Banks

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(Best Syndication News) Average mortgage rates were lower again today for the second straight day (see rate chart below).

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) fell two basis points today to 5.066 percent. Over the last five day, month and 100-days, the rate is still higher. Home loan rates are still at historic lows.

Citibank lowered their rate five points to 5.19 percent.

SunTrust lowered their rate five points to 4.95 percent. Their FHA loans were one point higher to 5.40 percent.

Chase lowered their 30-year rates one point to 5.21 percent. Their 20-year fixed mortgage rate fell two points to 5.08 percent.

15-Year FRM and 5/1 ARM Rate

The average 15-year fixed rate mortgage fell one point to 4.427 percent.

Citibank lowered their rate four points to 4.62 percent.

SunTrust increased their 15-year fixed mortgages two points to 4.46 percent.

Chase lowered their rate two points to 4.39 percent.

The average 5/1 adjustable rate mortgage (ARM) fell one point to 3.361 percent.

Citibank lowered their rate three points to 3.42 percent.

Chase raised their adjustable rates while SunTrust lowered them.

Jumbo Loans

Jumbo loan amounts exceed the maximum set by Fannie Mae. They are non-conventional loans and are riskier for the banks. For that reason they typically charge a higher interest rate.

The average 30-year jumbo loan rate fell three points and the average 15-year fixed jumbo loan rate increased on basis point.

By: John Waters
Business Reporter

Best Syndication News Mortgage Survey
Monday 1 Day 5 Day 30 Day 100-Day 1 Week
03/07/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
5.066% Average 30 yr fixed -2 2 4 69 5.06%
4.427% Average 15 year FRM -1 2 -2 55 4.42%
3.361% Average 5/1 ARM -1 1 6 17 3.36%
5.492% 30 Yr Fixed Jumbo -3 4 4 53 5.50%
4.659% 15 Yr Fixed Jumbo 1 3 -3 51 4.63%
3/7/11 Citi Financial 1 Day 5 Day 30 Day 100-Day 1 Week
5.19% 30 Year Fixed -5 0 11 60 5.21%
4.62% 15 Year Fixed -4 4 1 46 4.64%
3.42% 5/1 Libor ARM -3 2 7 9 3.43%
3/7/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.95% 30 Yr Fixed Conventional -5 2 4 64 4.96%
4.46% 15 Yr Fixed Conventional 2 6 4 66 4.43%
6.01% 30 Yr Jumbo Fixed -2 1 23 90 6.03%
3.29% Agency 5/1 ARM 30 Yr -1 3 6 25 3.28%
3.54% Agency 7/1 ARM 30 Yr -1 4 10 40 3.53%
5.40% 30 Yr FHA - Fixed 1 4 4 75 5.38%
03/07/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.21% 30-Year Fixed Rate -1 1 24 50 5.19%
5.08% 20-Year Fixed Rate -2 8 19 49 5.03%
4.39% 15-Year Fixed Rate -2 -2 4 48 4.40%
3.71% 7/1 ARM 5 6 5 41 3.64%
3.33% 5/1 ARM 1 4 -4 14 3.30%
* Average includes more banks than listed
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