Mortgage Interest Rates Higher Today – Wells Fargo Chase and Bank of America make changes

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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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