Current Mortgage Interest Rates Today – Lower Again with Changes at Citibank and SunTrust

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(Best Syndication News) Mortgage rates were lower again today with changes at PNC, SunTrust, Citibank and U.S. Bank (see rate chart below).

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) fell two basis points to 4.908 percent. This is the eighth straight day of declines. After plugging the rate into a mortgage calculator we found monthly payments of $1,513 on a $285,000 loan.

Some lenders will charge points and fees. Most homebuyers are looking for mortgages with no closing costs. Points can be paid up front to reduce the overall interest rate.

SunTrust lowered their rate seven points to 4.80 percent. The bank also offers 30-year FHA loans. That rate fell four points to 5.29 percent.

PNC raised their 30-year rate three points to 4.85 percent. The bank also offers 20-year financing. The rate of a 20-year FRM fell four points to 4.80 percent.

Citibank lowered their rate two points to 5.13 percent.

U.S. Bank raised their rate two points to 4.72 percent. Their 20-year loans increased three points 4.54 percent. The bank also offers VA and FHA financing.

15-Year FRM and 5/1 ARM

The average 15-year fixed rate mortgage fell three points to 4.201 percent. The rate has been declining over the past week and month. The 100-day trend is higher.

These mortgages usually carry a lower rate, but the payments may still be higher because the term is shorter.

U.S. Bank raised their rate four points to 4.08 percent.

The average 5-year adjustable rate mortgage fell two basis points to 3.246 percent.

Jumbo Loans

The average 30-year fixed jumbo mortgage rate fell less than one basis point to 5.280 percent. The average 15-year jumbo fell one point to 4.454 percent.

By: John Waters
Business Reporters

Click here for Mortgage Rates Today

Best Syndication News Mortgage Survey
Wednesday 1 Day 5 Day 30 Day 100-Day 1 Week
03/16/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.908% Average 30 yr fixed -2 -11 -20 55 4.99%
4.201% Average 15 year FRM -3 -17 -28 36 4.32%
3.246% Average 5/1 ARM -2 -9 -8 5 3.31%
5.280% 30 Yr Fixed Jumbo 0 -15 -19 35 5.39%
4.454% 15 Yr Fixed Jumbo -1 -20 -17 35 4.58%
3/16/11 Citi Financial 1 Day 5 Day 30 Day 100-Day 1 Week
5.13% 30 Year Fixed -2 -4 -8 47 5.15%
4.57% 15 Year Fixed 0 -1 -13 28 4.54%
3.32% 5/1 Libor ARM 2 -9 -9 -7 3.36%
3/16/11 U.S. Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.72% 30-Year Fixed 2 -19 -14 61 4.83%
4.54% 20-Year Fixed 3 -16 -16 38 4.64%
4.08% 15-Year Fixed 4 -16 -16 49 4.17%
4.00% 10-Year Fixed 13 -12 -12 36 4.05%
5.10% FHA 30-Year 0 -17 -26 35 5.24%
4.59% FHA 15-Year 13 -13 -13 3 4.64%
5.10% VA 30-Year 0 -13 -13 51 5.13%
4.85% VA 15-Year 13 0 0 25 4.82%
3.41% 3-Year ARM 0 -3 -3 -6 3.43%
3.42% 5-Year ARM 4 -9 -4 0 3.46%
4.87% Jumbo 30-Year 13 -13 -23 51 4.92%
4.41% Jumbo 15-Year 13 -25 -22 63 4.51%
3/16/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.80% 30 Yr Fixed Conventional -7 -12 -23 56 4.91%
4.19% 15 Yr Fixed Conventional -2 -19 -31 37 4.35%
5.64% 30 Yr Jumbo Fixed -10 -25 -27 52 5.84%
3.16% Agency 5/1 ARM 30 Yr 0 -9 -8 12 3.23%
3.36% Agency 7/1 ARM 30 Yr -2 -15 -14 23 3.47%
5.29% 30 Yr FHA - Fixed -4 -7 -3 48 5.36%
3/16/11 PNC - National City Bank 1 Day 5 Day 30 Day 100-Day 1 Week
3.86% 10 Year Fixed 14 -27 -82 45 4.07%
4.10% 15 Year Fixed 4 -25 -85 47 4.33%
4.80% 20 Year Fixed -4 -15 -74 62 4.98%
4.85% 30 Year Fixed 3 -14 -56 73 4.99%
Certain Areas
3.93% 10 Year Fixed 13 -23 -119 25 4.16%
4.20% 15 Year Fixed 4 -27 -97 36 4.40%
4.85% 20 Year Fixed 3 -35 -97 53 5.13%
4.96% 30 Year Fixed 0 -25 -76 62 5.16%
* Average includes more banks than listed
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