Current Mortgage Interest Rates Today – Bank of America SunTrust and PNC Make Changes

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(Best Syndication News) Mortgage rates were lower today with some changes at the major banks (see chart below).

30-Year Fixed Mortgage Rates

The average 30-year fixed rate fell one basis point to 4.936 percent. After plugging that rate into a mortgage calculator on $235,000 in principal, we found monthly payments of $1,252.

Bank of America lowered their 30-year fixed rates nine points to 5.05 percent. Their 5-day trend is lower but on a monthly and 100-day trends are higher. In certain areas their rate fell two points to 5.003 percent.

SunTrust lowered their 30-year conventional rates six points to 4.95 percent. Their FHA fixed rate mortgages fell two points to 5.38 percent.

FHA loans are guaranteed by the United States Department of Housing and Urban Development (HUD). If a borrower defaults on a loan guaranteed by the department, the home is foreclosed on by HUD and resold. Many investors look specifically for HUD homes.

PNC bucked the trend and raised their rate on point to 5.00 percent. Their 20-year rate remained steady at 4.95 percent. The bank has a range of rates offered depending on credit history and location of the home. See the chart below for more details.

15-Year FRM and 5/1 ARM Rates

The average 15-year fixed rate mortgage fell two basis points to 4.400 percent.

PNC lowered their 15-year rates two points to 4.35 percent. Their upper end rate increased two points to 4.45 percent.

The average 5-year adjustable rate mortgage (ARM) fell one point to 3.327 percent.

Bank of America lowered their 5-year ARM rates three points to 3.30 percent.

Jumbo Loan Rates

The average 30-year fixed jumbo mortgage rate fell one basis point to 5.431 percent. The average 15-year jumbo rate was steady at 4.603 percent.

By John Waters
Business Reporter

Click here for Mortgage Rates Today

Best Syndication News Mortgage Survey
Wednesday 1 Day 5 Day 30 Day 100-Day 1 Week
04/13/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.936% Average 30 yr fixed -1 -17 -11 24 5.07%
4.400% Average 15 year FRM -2 0 -1 22 4.39%
3.327% Average 5/1 ARM -1 -4 -2 6 3.37%
5.431% 30 Yr Fixed Jumbo -1 -3 -2 25 5.47%
4.603% 15 Yr Fixed Jumbo 0 -5 -3 20 4.64%
4/13/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.95% 30 Yr Fixed Conventional -6 -8 2 33 5.03%
4.42% 15 Yr Fixed Conventional -2 -6 2 35 4.48%
5.76% 30 Yr Jumbo Fixed -2 -14 -24 13 5.87%
3.23% Agency 5/1 ARM 30 Yr -3 -4 -3 9 3.27%
3.47% Agency 7/1 ARM 30 Yr -2 -6 -3 17 3.52%
5.38% 30 Yr FHA - Fixed -2 -5 1 56 5.42%
4/13/11 PNC - National City Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.10% 10 Year Fixed 3 -5 -28 -41 4.14%
4.35% 15 Year Fixed -2 -2 -17 -15 4.37%
4.95% 20 Year Fixed 0 -6 -36 -27 5.00%
5.00% 30 Year Fixed 1 -1 -15 0 5.01%
Certain Areas
4.15% 10 Year Fixed 3 -3 -31 -63 4.17%
4.45% 15 Year Fixed 2 -2 -25 -65 4.46%
5.20% 20 Year Fixed 0 0 -16 -50 5.20%
5.21% 30 Year Fixed 0 0 -12 -15 5.21%
04/13/11 Bank of America 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
5.05% 30-Year Fixed Rate -9 -10 4 56 5.13%
4.45% 15-Year Fixed-Rate -2 1 4 49 4.45%
3.30% 5/1 ARM Rate -3 -6 -1 12 3.37%
Certain Areas
5.003 30-Year Fixed Rate -2 -1 6 53 5.04%
4.421 15-Year Fixed Rate -2 -2 1 46 4.43%
3.413 7/1 ARM -1 -3 -3 -3 3.43%
3.185 5/1 ARM -3 -18 -13 0 3.27%
* Average includes more banks than listed
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