Mortgage Rates Higher Again Today – Citibank Chase and SunTrust Make Changes

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(Best Syndication News) Mortgage rates were higher today with Citibank making some big changes (see rate charts below).

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) jumped three basis points to 4.984 percent. Over this last week that product has been up three of the last five days with a total advance of seven points. The average for the week was 4.93 percent.

Citibank made the biggest changes today. Over the last 30-days their rate is still lower by 25 basis points.

If you look at the trends, the five day trend was higher, 30-day trend lower, but 100-day trend was higher again. The wave of advances and declines is clear in the table below.

SunTrust raised their conventional loan rate one point to 4.93 percent. Their FHA financing rates were one point higher to 5.37 percent.

Chase raised their 30-year loan rates one point to 5.10 percent. The bank also offered their 20-year fixed mortgages for 4.99 percent, up two basis points.

15-Year FRM and 5-Year ARM Rates

The average 15-year fixed mortgage rate jumped five basis points to 4.315 percent.

Again, Citibank raised their rates the most. The bank raised their 15-year FRM 47 basis points to 4.70 percent.

SunTrust raised their rate four basis points to 4.40 percent.

The average 5/1 adjustable rate mortgage (ARM) jumped three basis points to 3.320 percent.

Citigroup increased their average 5/1 ARM rate 24 basis points to 3.41 percent. SunTrust increased their rate three basis points while Chase kept their rate the same.

Jumbo Loan Rates

The average 30-year jumbo loan rate increased two basis points today. Over the last week and month this product has been lower. See the chart below for details.

By: John Waters
Business Reporter

Best Syndication News Mortgage Survey
Friday 1 Day 5 Day 30 Day 100-Day 1 Week
03/25/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.984% Average 30 yr fixed 3 7 -34 52 4.93%
4.315% Average 15 year FRM 5 11 -34 36 4.22%
3.320% Average 5/1 ARM 3 6 -11 8 3.28%
5.401% 30 Yr Fixed Jumbo 2 -5 -24 42 5.39%
4.600% 15 Yr Fixed Jumbo 0 -14 -21 46 4.57%
3/25/11 Citi Financial 1 Day 5 Day 30 Day 100-Day 1 Week
5.17% 30 Year Fixed 25 25 -25 46 4.96%
4.70% 15 Year Fixed 47 49 -14 34 4.28%
3.41% 5/1 Libor ARM 24 26 -13 3 3.19%
3/25/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.93% 30 Yr Fixed Conventional 1 3 -32 63 4.90%
4.40% 15 Yr Fixed Conventional 4 18 -18 51 4.28%
5.78% 30 Yr Jumbo Fixed -9 1 -36 52 5.81%
3.25% Agency 5/1 ARM 30 Yr 3 4 -9 16 3.21%
3.48% Agency 7/1 ARM 30 Yr 4 5 -15 29 3.42%
5.37% 30 Yr FHA - Fixed 1 5 -20 52 5.33%
03/25/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.10% 30-Year Fixed Rate 1 -8 -24 41 5.11%
4.99% 20-Year Fixed Rate 2 0 -35 38 4.96%
4.34% 15-Year Fixed Rate 2 -1 -28 22 4.30%
3.59% 7/1 ARM 0 5 -38 11 3.53%
3.27% 5/1 ARM 0 3 -24 0 3.24%
* Average includes more banks than listed
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