Current Mortgage Interest Rates Today – Lower Rates again as Treasury Yields decline

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(Best Syndication News) After four straight days of declines, mortgage rates declined drastically again today (see mortgage rate chart below). All of the major banks we monitor, including Bank of America, Citibank and Chase, lowered their interest rates.

U.S. Treasury yields have been dropping over the last few days. Yesterday the 10-year note, the benchmark for some lenders, fell three basis points to 3.25 percent. Despite inflation concerns, investors have been looking for the U.S. safe haven driving down yields.

30-Year Fixed Mortgage Rates

The average 30-year fixed rate mortgage (FRM) fell five basis points to 4.679 percent. This average includes all conventional financing, but excludes jumbo loans and VA and FHA home loans.

SunTrust lowered their rate two basis points to 4.77 percent. Their trend has been lower over the last 10-days. The bank also offers FHA financing. Those loans fell 11 points 5.04 percent.

PNC (National City Bank) lowered their rate eight basis points to 4.76 percent. They also offered their 20-year loans for 4.56 percent, down 13 points from the day before.

U.S. Bank lowered their rate 12 basis points to 4.58 percent. The bank also offered their 30-year FHA loans for 4.97 percent, down 13 points.

15-Year FRM and 5/1 ARM

The average 15-year fixed mortgage rate fell two basis points to 4.097 percent. U.S. Bank lowered their rate five points to 3.99 percent.

The average 5-year adjustable rate mortgage (ARM) fell two points to 3.159 percent. SunTrust lowered their rate four points to 2.62 percent.

Jumbo Loans

The average 30-year fixed jumbo mortgage fell four basis points to 5.186 percent. The average 15-year jumbo fell five points to 4.288 percent.

By: John Waters
Business Reporter

Click here for Current Mortgage Rates Today

Best Syndication News Mortgage Survey
Thursday 1 Day 5 Day 30 Day 100-Day 1 Week
05/05/11 Overall Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Average
4.679% Average 30 yr fixed -5 -10 -24 -15 4.77%
4.097% Average 15 year FRM -2 -7 -13 -19 4.17%
3.159% Average 5/1 ARM -2 -3 -11 -10 3.19%
5.186% 30 Yr Fixed Jumbo -4 -6 -13 -9 5.26%
4.288% 15 Yr Fixed Jumbo -5 -6 -22 -21 4.36%
5/5/11 U.S. Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.58% 30-Year Fixed -12 -14 -13 0 4.73%
4.46% 20-Year Fixed -4 -7 -7 -12 4.53%
3.99% 15-Year Fixed -5 -5 -9 -5 4.06%
3.72% 10-Year Fixed -8 -11 -23 -46 3.83%
4.97% FHA 30-Year -13 -13 -13 -13 5.13%
4.46% FHA 15-Year 0 0 -13 -13 4.49%
4.97% VA 30-Year -13 -13 -13 -13 5.10%
4.47% VA 15-Year -13 -25 -38 -38 4.72%
3.41% 3-Year ARM 0 0 0 -3 3.41%
3.38% 5-Year ARM 0 -4 -9 -9 3.40%
4.61% Jumbo 30-Year -13 -13 -25 -25 4.76%
4.16% Jumbo 15-Year 0 -13 -13 -13 4.33%
5/5/11 Sun Trust Bank 1 Day 5 Day 30 Day 100-Day 1 Week
4.77% 30 Yr Fixed Conventional -3 -6 -12 -2 4.82%
4.04% 15 Yr Fixed Conventional -5 -15 -19 -29 4.14%
5.62% 30 Yr Jumbo Fixed -2 -2 -14 -13 5.66%
2.62% Agency 5/1 ARM 30 Yr -4 -4 -56 -51 2.65%
2.91% Agency 7/1 ARM 30 Yr -4 -6 -48 -41 2.97%
5.04% 30 Yr FHA - Fixed -11 -16 -26 -24 5.14%
PNC - National City Bank 1 Day 5 Day 30 Day 100-Day 1 Week
3.72% 10 Year Fixed -13 -23 -28 -79 3.90%
3.99% 15 Year Fixed -5 -9 -13 -51 4.07%
4.56% 20 Year Fixed -13 -16 -26 -66 4.71%
4.76% 30 Year Fixed -8 -9 -9 -24 4.85%
Certain Areas
3.75% 10 Year Fixed -3 -8 -21 -103 3.82%
4.16% 15 Year Fixed -2 -2 -13 -94 4.19%
4.70% 20 Year Fixed -1 -3 -16 -100 4.73%
4.85% 30 Year Fixed -11 -11 -13 -51 4.99%
* Average includes more banks than listed
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