Current Mortgage Interest Rates – Changes at HSBC US Bank and Bank of America

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(Best Syndication News) Mortgage rates were mixed today with some changes at HSBC, U.S. Bank and BofA (see rate charts below). Home loans have declined four days in a row.

30-year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) decreased one basis point to 4.727 percent. After plugging the interest rate into a mortgage calculator we found a monthly payment of only $1,222 on a $235,000 loan. Over the last week the rate has dropped 10 basis points.

HSBC lowered their refinance and purchase loan rates 13 basis points to 5.02 percent.

Some loans are insured by government agencies. FHA loans are guaranteed by the Federal Housing Authority and VA loans are warranted by the Veterans Administration.

The bank also lowered their 30-year VA and FHA loan rate 13 points to 4.94 percent.

U.S. Bank lowered their rate one basis point to 4.70 percent today. The bank did not change their FHA loans rates today, but they lower their 20-year FRM one point to 4.50 percent.

Bank of America bucked the trend and raised their rate one basis point to 4.92 percent. In certain areas the rate fell two points to 4.865 percent.

15-Year FRM and 5/1 ARM

The average 15-year fixed mortgage rate dropped two basis points to 4.121 percent.

Bank of America lowered their rate five basis points in certain areas.

U.S. Bank lowered their rate two basis points to 4.05 percent.

The average 5-year adjustable rate mortgage (ARM) jumped less than one basis point.

Jumbo Loans

Jumbo loan rates remained steady today. 30-year jumbos jumped less than one basis point to 5.229 percent.

By: John Waters
Business Reporter

Best Syndication News Mortgage Survey
Wednesday 1 Day 5 Day 30 Day 100-Day 1 Week
05/04/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.727% Average 30 yr fixed -1 -10 -19 -11 4.78%
4.121% Average 15 year FRM -2 -15 -9 -17 4.20%
3.176% Average 5/1 ARM 0 -5 -9 -11 3.20%
5.229% 30 Yr Fixed Jumbo 0 -12 -8 -1 5.28%
4.333% 15 Yr Fixed Jumbo 0 -11 -16 -16 4.39%
Wednesday 1 Day 5 Day 30 Day 100-Day 1 Week
05/04/11 HSBC Point Ch. Point Ch. Point Ch. Point Ch. Average
4.37% 15 Year Purchase 0 -13 -13 -12 4.42%
4.37% 15 Year Refinance 0 -13 -13 -12 4.42%
5.02% 30 Year Purchase -13 -13 -13 -12 5.15%
5.02% 30 Year Refinance -13 -13 -13 -12 5.15%
4.94% 30 Year FHA/VA Purchase -13 -13 -13 -12 5.06%
4.94% 30 Year FHA/VA Refinance -13 -13 -13 -12 5.06%
4.64% 30 Year CommunityWorks -13 -13 -13 -12 4.77%
3.21% 3/1 YR LIBOR ARM 0 0 -3 -1 3.21%
3.35% 5/1 YR LIBOR ARM 0 0 0 4 3.35%
5/4/11 U.S. Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.70% 30-Year Fixed -1 -14 -1 -3 4.76%
4.50% 20-Year Fixed -1 -8 -3 -28 4.55%
4.05% 15-Year Fixed -2 -6 -4 -8 4.07%
3.80% 10-Year Fixed -3 -7 -15 -32 3.85%
5.10% FHA 30-Year 0 -13 0 -17 5.15%
4.46% FHA 15-Year 0 -13 -13 -13 4.51%
5.10% VA 30-Year 0 0 0 0 5.10%
4.59% VA 15-Year -13 -25 -25 -25 4.77%
3.41% 3-Year ARM 0 0 0 -6 3.41%
3.38% 5-Year ARM 0 -4 -4 -13 3.42%
4.74% Jumbo 30-Year 0 -13 -13 -13 4.79%
4.28% Jumbo 15-Year 0 -13 -13 -13 4.33%
05/04/11 Bank of America 1 Day Pt 5 Day Pt 30 Day Pt 100-Day 1-wk Avg
4.92% 30-Year Fixed Rate 1 -3 -1 37 4.94%
4.12% 15-Year Fixed-Rate 0 -15 -2 13 4.19%
3.25% 5/1 ARM Rate 0 -2 -8 6 3.26%
Certain Areas
4.865 30-Year Fixed Rate -2 -6 -3 35 4.89%
4.079 15-Year Fixed Rate -5 -18 -6 8 4.15%
3.347 7/1 ARM 2 -3 -10 -10 3.34%
3.134 5/1 ARM -1 -3 -19 -6 3.15%
* Average includes more banks than listed
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