Current Mortgage Rates – Some Banks Make Major Changes

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(Best Syndication News) Although the average 30-year rate was higher today, PNC Chase, SunTrust and Wells Fargo lowered their rates (see rate charts below).

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) increased three basis points to 5.026 percent. Over the last week the rate is up nine points.

PNC lowered their rate six points to 4.909 percent. Their upper end rate increased ten basis points to 5.109 percent.

Chase lowered their rate ten points to 5.09 percent. PNC and Chase both offer 20-year fixed loans. Chase lowered their rate five points to 4.97 percent.

Wells Fargo lowered their rate 13 basis points to 5.07 percent. Their fixed FHA loans were down 14 basis points to 5.62 percent. In certain areas their rate decreased 13 points to 5.14 percent.

15-Year FRM and 5/1 ARM

The average 15-year fixed rate mortgage fell two points to 4.347 percent. For the week that rate is three basis points higher.

PNC lowered their 15-year rates four basis points to 4.354 percent.

Chase lowered their rate four points to 4.35 percent.

The average 5-year adjustable rate mortgage (ARM) decreased less than one basis point to 3.350 percent.

Wells Fargo lowered their rate four basis points to 3.30 percent.

Jumbo Loan Rates

The average 30-year jumbo mortgage rate decreased three basis points to 5.445 percent. Wells Fargo lowered their rate 13 basis points to 5.39 percent.

The average 15-year fixed rate jumbo loan fell four basis points to 4.623 percent.

By: John Waters
Business Reporter

Click here for Mortgage Rates Today

Best Syndication News Mortgage Survey
Thursday 1 Day 5 Day 30 Day 100-Day 1 Week
03/31/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
5.026% Average 30 yr fixed 3 9 -19 59 4.98%
4.347% Average 15 year FRM -2 3 -23 47 4.33%
3.350% Average 5/1 ARM 0 3 -5 17 3.33%
5.445% 30 Yr Fixed Jumbo -3 4 -14 47 5.44%
4.623% 15 Yr Fixed Jumbo -4 2 -11 54 4.63%
Thursday 1 Day 5 Day 30 Day 100-Day 1 Week
03/31/11 Wells Fargo Point Ch. Point Ch. Point Ch. Point Ch. Average
5.07% 30-Year Fixed -13 0 -25 63 5.09%
5.62% 30-Year Fixed FHA -14 0 -14 54 5.65%
4.57% 15-Year Fixed 0 0 -13 76 4.57%
3.30% 5-Year ARM -4 0 -4 18 3.32%
3.41% 5-Year ARM FHA 0 0 0 46 3.41%
Certain areas
5.14% 30-Year Fixed -13 0 -25 76 5.16%
5.57% 30-Year Fixed FHA -14 0 -27 54 5.65%
3.34% 5-Year ARM -4 0 -4 18 3.36%
Jumbo Loans
5.39% 30-Year Fixed -13 0 -13 38 5.47%
3.43% 5-Year ARM 0 4 -4 4 3.41%
3/31/11 PNC - National City Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.021% 10 Year Fixed -3 3 -84 17 4.02%
4.354% 15 Year Fixed -4 9 -63 27 4.33%
4.891% 20 Year Fixed -3 2 -69 32 4.90%
4.909% 30 Year Fixed -6 1 -59 38 4.94%
Certain Areas
4.125% 10 Year Fixed 0 0 -104 -8 4.13%
4.344% 15 Year Fixed -9 4 -87 -36 4.34%
5.089% 20 Year Fixed -11 1 -88 11 5.13%
5.109% 30 Year Fixed 10 13 -63 10 5.12%
03/31/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.09% 30-Year Fixed Rate -10 -1 -14 63 5.16%
4.97% 20-Year Fixed Rate -5 -2 -16 60 5.00%
4.35% 15-Year Fixed Rate -4 1 -14 38 4.35%
3.59% 7/1 ARM -6 0 -32 22 3.61%
3.27% 5/1 ARM -2 0 -19 9 3.29%
* Average includes more banks than listed
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