Current Mortgage Rates Today – Mixed with changes at Bank of America Citibank and SunTrust

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(Best Syndication News) Mortgages interest rates were mixed today with higher 30-year home loans higher (see rate charts below). There were some minor changes at Wells Fargo, Chase, PNC and HSBC.

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) advanced one basis point to 5.112 percent. The rate has been higher three days in a row.

After plugging the rate into a mortgage calculator we found monthly payments of $1,277 on a $230,000 loan.

Citibank was one of the few banks that lowered their rates today. The bank lowered their 30-year rate seven points to 5.22 percent.

SunTrust raised their 30-year fixed rate one point to 5.04 percent. Their FHA rate was 5.43 percent.

Bank of America raised their rate one point to 5.16 percent. In certain areas they raised their rate nine basis points to 5.112 percent.

15-Year FRM and 5-Year ARM Rates

The average 15-year fixed mortgage rate decreased three basis points to 4.367 percent.

Citibank made a drastic change today. The bank lowered their rate 42 basis points to 4.44 percent.

SunTrust lowered their rate two points to 4.50 percent.

The average 5/1 adjustable rate mortgage (ARM) decreased two points to 3.338 percent.

Jumbo Loan Rates

The average 30-year jumbo loan rate increased three basis points to 5.497 percent.

SunTrust kept their rate steady at 5.89 percent.

The average 15-year jumbo mortgage rate increased less than one basis point to 4.655 percent.

By: John Waters
Business Reporter

Best Syndication News Mortgage Survey
Friday 1 Day 5 Day 30 Day 100-Day 1 Week
04/08/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
5.112% Average 30 yr fixed 1 4 -2 57 5.07%
4.367% Average 15 year FRM -3 0 -14 35 4.37%
3.338% Average 5/1 ARM -2 -3 -3 12 3.36%
5.497% 30 Yr Fixed Jumbo 3 2 0 45 5.46%
4.655% 15 Yr Fixed Jumbo 0 -1 4 44 4.64%
4/8/11 Citi Financial 1 Day 5 Day 30 Day 100-Day 1 Week
5.22% 30 Year Fixed -7 1 3 57 5.25%
4.44% 15 Year Fixed -42 -26 -18 16 4.77%
3.34% 5/1 Libor ARM -14 -12 -8 -2 3.47%
4/8/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
5.04% 30 Yr Fixed Conventional 1 9 3 67 4.98%
4.50% 15 Yr Fixed Conventional 2 9 2 55 4.43%
5.89% 30 Yr Jumbo Fixed 0 0 -13 51 5.87%
3.28% Agency 5/1 ARM 30 Yr 0 0 -4 18 3.28%
3.54% Agency 7/1 ARM 30 Yr 1 1 -3 34 3.52%
5.43% 30 Yr FHA - Fixed 0 5 3 54 5.40%
04/08/11 Bank of America 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.16% 30-Year Fixed Rate 1 14 14 76 5.06%
4.45% 15-Year Fixed-Rate 0 7 3 55 4.42%
3.37% 5/1 ARM Rate 0 -4 1 21 3.39%
Certain Areas
5.112 30-Year Fixed Rate 9 10 12 73 5.03%
3.249 5-Year ARM 0 -3 3 19 3.25%
5.549 30-Year FRM int only 1 -4 -3 49 5.55%
3.302 5-Year ARM, int only -1 -2 2 22 3.31%
* Average includes more banks than listed
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