Mortgage Interest Rates Today – Changes at Chase, Bank of America, Citibank and SunTrust

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(Best Syndication News) Mortgage rates moved lower again today beginning a change in the 100-day trend (see rate charts below). Bank of America and SunTrust made some big changes.

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) was five points lower to 4.876 percent. This was the fifth day straight of declining interest rates. Over the last 100-days, the trend has been 17 basis points higher.

Chase lowered their 30-year FRM one basis point to 5.07 percent. The bank also offers 20-year loans. Those rates also dropped one basis point to 4.89 percent.

Bank of America lowered their rate 12 basis points to 4.94 percent today. In certain areas they are charging 4.927 percent, down nine basis points.

Citibank lowered their rate eight basis points to 5.19 percent.

SunTrust lowered their conventional rates nine basis points to 4.90 percent. Their FHA 30-year loans fell six points to 5.33 percent. Under the Department of Housing and Urban Development, the Federal Housing Authority guarantees loans to qualified applicants. Applicants can pay a reduced down payment to qualify for a loan.

15-Year FRM and 5/1 ARM Loans

The average 15-year fixed home loan rate fell eight basis points to 4.318 percent. These loans have a shorter term and lower interest rates, but the monthly payments are higher.

SunTrust lowered their rate 10 basis points to 4.33 percent.

The average 5-year adjustable rate mortgage fell four basis points to 3.277 percent. Citibank lowered their Libor adjusted mortgages six points to 5.33 percent.

Jumbo Loan Rates

The average 30-eyar and 15-year jumbo mortgage rates fell today. The 30-year fixed jumbo fell seven points and the average 15-year jumbo fell three points.

SunTrust lowered their 30-year jumbo loan rate 13 points to 5.63 percent.

By John Waters
Business Reporter

Click here for Mortgage Rates Today

Best Syndication News Mortgage Survey
Monday 1 Day 5 Day 30 Day 100-Day 1 Week
04/18/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.875% Average 30 yr fixed -5 -23 -21 17 5.00%
4.318% Average 15 year FRM -8 -7 -12 13 4.39%
3.277% Average 5/1 ARM -4 -18 -9 1 3.35%
5.327% 30 Yr Fixed Jumbo -7 -18 -21 13 5.45%
4.526% 15 Yr Fixed Jumbo -3 -13 -12 16 4.62%
4/18/11 Citi Financial 1 Day 5 Day 30 Day 100-Day 1 Week
5.19% 30 Year Fixed -8 -17 -7 43 5.29%
4.73% 15 Year Fixed -8 7 0 33 4.72%
3.41% 5/1 Libor ARM -3 -6 -6 3 3.42%
4/18/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.90% 30 Yr Fixed Conventional -9 -14 -12 28 5.01%
4.33% 15 Yr Fixed Conventional -10 -17 -15 25 4.45%
5.63% 30 Yr Jumbo Fixed -13 -26 -48 -2 5.82%
3.17% Agency 5/1 ARM 30 Yr -7 -10 -13 4 3.26%
3.41% Agency 7/1 ARM 30 Yr -7 -12 -15 12 3.50%
5.33% 30 Yr FHA - Fixed -6 -11 -10 50 5.41%
04/18/11 Chase 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.07% 30-Year Fixed Rate -1 -3 -15 37 5.15%
4.89% 20-Year Fixed Rate -1 -9 -21 25 4.99%
4.26% 15-Year Fixed Rate -4 -8 -16 14 4.33%
3.48% 7/1 ARM 0 -7 -23 -17 3.54%
3.21% 5/1 ARM -2 -8 -12 -20 3.27%
04/18/11 Bank of America 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
4.94% 30-Year Fixed Rate -12 -21 -10 51 5.11%
4.16% 15-Year Fixed-Rate -29 -28 -31 18 4.45%
3.28% 5/1 ARM Rate -2 -8 -7 10 3.33%
Certain Areas
4.927 30-Year Fixed Rate -9 -11 -6 51 5.00%
4.267 15-Year Fixed Rate -16 -14 -20 28 4.39%
3.348 7/1 ARM -7 -9 -9 -9 3.41%
3.144 5/1 ARM -3 -8 -20 -4 3.19%
* Average includes more banks than listed
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