Current Mortgage Interest Rates Today – U.S. Bank PNC Increase Rates and Chase Lowers Them

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(Best Syndication News) Conventional mortgage rates were higher today while jumbo loan rates declined (see rate charts below). Bank of America, U.S. Bank and PNC increased their rates.

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) increased four basis points to 4.954 percent. We plugged that rate into a mortgage calculator and found a monthly payment of $1,308 on a $245,000 loan.

Most homebuyers are looking for home loans with no closing costs or points.

U.S. Bank increased their rate 12 basis points to 4.82 percent. They also increased their 30-year FHA loan rate 13 points to 5.23 percent.

PNC raised their rate four basis points to 4.89 percent. In certain areas they raised that rate 13 points to 5.09 percent. The final rate could depend on the borrower’s credit score, loan amount and the location of the home.

Chase lowered their rates today. The bank lowered their 30-year FRM nine points to 5.09 percent. Their 20-year loans were down two points to 4.97 percent.

15-Year FRM and 5-Year ARM

The average 15-year rate jumped four basis points to 4.239 percent.

PNC increased their rate two points to 4.14 percent. Chase lowered their rate seven points to 4.28 percent.

The average 5-year adjustable rate mortgage (ARM) increased two points to 3.284 percent.

Jumbo Mortgages

Jumbo mortgages were lower today. These loan products exceed what Fannie Mae will pay. The mortgages are harder to sell for that reason and typically require a higher rate for the risk.

The average 30-year fixed jumbo rate decreased three points to 5.427 percent.

By: John Waters
Business Report

Click here for Mortgage Rates Today

Best Syndication News Mortgage Survey
Tuesday 1 Day 5 Day 30 Day 100-Day 1 Week
03/22/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.954% Average 30 yr fixed 4 5 -33 50 4.92%
4.239% Average 15 year FRM 4 4 -39 26 4.21%
3.284% Average 5/1 ARM 2 4 -14 6 3.26%
5.427% 30 Yr Fixed Jumbo -3 15 -19 44 5.33%
4.528% 15 Yr Fixed Jumbo -21 7 -25 33 4.53%
3/22/11 U.S. Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.82% 30-Year Fixed 12 10 -17 50 4.71%
4.63% 20-Year Fixed 10 8 -33 32 4.53%
4.12% 15-Year Fixed 4 4 -38 47 4.07%
4.06% 10-Year Fixed 5 5 -23 33 3.96%
5.23% FHA 30-Year 13 13 -26 39 5.10%
4.59% FHA 15-Year 0 0 -39 3 4.57%
5.10% VA 30-Year 0 0 -51 26 5.10%
4.85% VA 15-Year 0 0 -26 25 4.82%
3.41% 3-Year ARM 0 0 -11 -3 3.41%
3.51% 5-Year ARM 4 9 -9 4 3.43%
4.87% Jumbo 30-Year 0 0 -33 38 4.84%
4.41% Jumbo 15-Year 0 13 -34 63 4.38%
3/22/11 PNC - National City Bank 1 Day 5 Day 30 Day 100-Day 1 Week
3.91% 10 Year Fixed 3 5 -111 6 3.87%
4.14% 15 Year Fixed 2 4 -89 6 4.10%
4.86% 20 Year Fixed 6 6 -87 40 4.81%
4.89% 30 Year Fixed 4 3 -66 40 4.84%
Certain Areas
4.05% 10 Year Fixed 13 13 -117 -15 3.91%
4.29% 15 Year Fixed 7 9 -96 -40 4.22%
4.98% 20 Year Fixed 13 13 -113 16 4.84%
5.09% 30 Year Fixed 13 13 -75 26 4.96%
03/22/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.09% 30-Year Fixed Rate -9 2 -26 40 5.10%
4.97% 20-Year Fixed Rate -2 8 -39 36 4.93%
4.28% 15-Year Fixed Rate -7 0 -34 14 4.30%
3.54% 7/1 ARM 0 6 -48 5 3.49%
3.24% 5/1 ARM 0 4 -27 -3 3.20%
* Average includes more banks than listed
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