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Mortgage Interest Rates Higher Today – Wells Fargo Chase and Bank of America make changes
Submitted by John Waters on April 2, 2011 - 12:12pm.
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(Best Syndication News) Mortgage rates were higher today with the exception of Citibank and Bank of America which lowered them (see rate charts below).
30-Year Fixed Mortgage Rates
The average 30-year fixed rate mortgage increased four basis points to 5.068 percent.
Wells Fargo raised their rate 13 basis points to 5.19 percent today. The bank also offers 30-year FHA loan which were 14 points higher to 5.76 percent. In some areas they raised their 30-year rates 13 points to 5.26 percent and 5.70 percent respectively.
Citibank lowered their 30-year fixed rate mortgage (FRM) two points to 5.21 percent.
Chase Bank raised their rate 13 basis points to 5.22 percent. Their 20-year mortgage rate increased 13 points to 5.10 percent.
Bank of America lowered their rate one point to 5.02 percent. In certain areas the rate was down one point to 5.015 percent.
15-Year FRM and 5-Year ARM
The average 15-year FRM was up two basis points to 4.366 percent.
Chase increased their rate four basis points to 4.39 percent.
Bank of America lowered their rate two points to 4.38 percent.
The average 5/1 adjustable rate mortgage (ARM) increased two basis points to 3.366 percent.
Wells Fargo raised their 5/1 ARM rate four points to 3.39 percent.
Jumbo Rates
Jumbo mortgage rates increased today. The 20-year jumbo loan rate increased three basis points to 5.473 percent and the 15-year fixed jumbo increased four basis points.
See the chart below for more details.
By: John Waters
Business Reporter
Click here for Mortgage Rates Today
| Best Syndication News Mortgage Survey | ||||||
| Friday | 1 Day | 5 Day | 30 Day | 100-Day | 1 Week | |
| 04/01/11 | Overall Average APR* | Point Ch. | Point Ch. | Point Ch. | Point Ch. | Average |
| 5.068% | Average 30 yr fixed | 4 | 4 | -16 | 66 | 5.02% |
| 4.366% | Average 15 year FRM | 2 | 1 | -22 | 46 | 4.35% |
| 3.366% | Average 5/1 ARM | 2 | 2 | -3 | 19 | 3.34% |
| 5.473% | 30 Yr Fixed Jumbo | 3 | 1 | -10 | 51 | 5.45% |
| 4.665% | 15 Yr Fixed Jumbo | 4 | 2 | -6 | 55 | 4.63% |
| Friday | 1 Day | 5 Day | 30 Day | 100-Day | 1 Week | |
| 04/01/11 | Wells Fargo | Point Ch. | Point Ch. | Point Ch. | Point Ch. | Average |
| 5.19% | 30-Year Fixed | 13 | 13 | -13 | 76 | 5.09% |
| 5.76% | 30-Year Fixed FHA | 14 | 14 | -13 | 67 | 5.65% |
| 4.57% | 15-Year Fixed | 0 | 0 | -13 | 63 | 4.57% |
| 3.35% | 5-Year ARM | 4 | 4 | 0 | 26 | 3.32% |
| 3.41% | 5-Year ARM FHA | 0 | 0 | 0 | 46 | 3.41% |
| Certain areas | ||||||
| 5.26% | 30-Year Fixed | 13 | 13 | -13 | 88 | 5.16% |
| 5.70% | 30-Year Fixed FHA | 14 | 0 | -13 | 67 | 5.65% |
| 3.39% | 5-Year ARM | 4 | 4 | 0 | 22 | 3.36% |
| Jumbo Loans | ||||||
| 5.52% | 30-Year Fixed | 13 | 0 | 0 | 50 | 5.47% |
| 3.43% | 5-Year ARM | 0 | 0 | -4 | 4 | 3.42% |
| 4/1/11 | Citi Financial | 1 Day | 5 Day | 30 Day | 100-Day | 1 Week |
| 5.21% | 30 Year Fixed | -2 | -2 | -10 | 66 | 5.20% |
| 4.70% | 15 Year Fixed | -4 | -8 | -1 | 51 | 4.72% |
| 3.46% | 5/1 Libor ARM | 0 | 1 | -1 | 16 | 3.44% |
| 04/01/11 | Chase | 1 Day Pt | 5 Day Pt | 30 Day Pt | 100-Day | 1-wk Avg |
| 5.22% | 30-Year Fixed Rate | 13 | 2 | -2 | 75 | 5.16% |
| 5.10% | 20-Year Fixed Rate | 13 | 8 | -13 | 72 | 5.00% |
| 4.39% | 15-Year Fixed Rate | 4 | 2 | -13 | 41 | 4.36% |
| 3.60% | 7/1 ARM | 1 | -5 | -31 | 19 | 3.61% |
| 3.33% | 5/1 ARM | 5 | 1 | -14 | 13 | 3.29% |
| Bank of America | 1 Day Pt | 5 Day Pt | 30 Day Pt | 100-Day | 1-wk Avg | |
| 5.02% | 30-Year Fixed Rate | -1 | -2 | -14 | 76 | 5.03% |
| 4.38% | 15-Year Fixed-Rate | -2 | -9 | -9 | 74 | 4.43% |
| 3.41% | 5/1 ARM Rate | 0 | 5 | 6 | 28 | 3.37% |
| Certain Areas | ||||||
| 5.015 | 30-Year Fixed Rate | -1 | 0 | -3 | 77 | 5.01% |
| 3.276 | 5-Year ARM | 0 | 3 | 5 | 25 | 3.26% |
| 5.585 | 30-Year FRM int only | -1 | -1 | 3 | 58 | 5.59% |
| 3.325 | 5-Year ARM, int only | 0 | 2 | 3 | 27 | 3.32% |
| * Average includes more banks than listed | ||||||
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