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Current Mortgage Rates Today – Loans Advanced at HSBC and U.S. Bank

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5-Year ARM

(Best Syndication News) Mortgage rates were higher in the United States today after the benchmarks continue to rise (see the mortgage rate charts below). Lenders, including SunTrust, KeyBank, HSBC, and U.S. Bank, raised their loan products.

Benchmarks

Little progress has been made concerning the fiscal cliff as both sides continue to debate the issues in public. House Speaker John Boehner said the President is unwilling to cut spending while Democrats blame the Republicans for not yielding on taxes. Every day the odds that there will be an agreement between the two sides diminishes.

The fiscal cliff, and the problems association with a looming recession and austerity, weighed on the equity markets. There was also a mixed-bag of economic news that traders needed to sort through.

The Department of Labor said that 343,000 Americans started filing for unemployment last week. Economists had expected as many as 375,000 initial jobless claims. There were 375,000 initial jobless claims the previous week, upwardly revised from a figure of 370,000.

Retail sales improved too. The Department of Commerce said that sales were up 0.3 percent in November. This was below analyst expectations of 0.6 percent but better the negative 0.3 percent posted in October. The Commerce Department also said that business inventories increased 0.4 percent in October.

The producer price index (PPI) fell 0.8 percent last month, according to the U.S. Labor Department. Analysts were expected a drop of just 0.5 percent.

The Dow Jones Industrial Average (INDEXDJX:.DJI) index fell 74 points Thursday. The S&P 500 and the NASDAQ also posted losses of 0.63 percent and 0.72 percent respectively.

Only the transportation sector was higher, up just 0.05 percent. The energy sector dropped 0.77 percent on renewed recession worries. Less economic activity leads to less demand for oil and natural gas.

Bond and note prices dropped despite a down-day on Wall Street. The Treasury Department said the 10-year note yield advanced two basis points (bps) to 1.74 percent (see the benchmark chart below).

Freddie Mac and Fannie Mae raised their required net yield (RNY) rates. The Federal Home Loan Mortgage Corp (OTC:FMCC) raised their 30-year 60-day RNY rate four bps to 2.85 percent. The Federal National Mortgage Association (OTC:FNMA) raised their rate two points to 2.865 percent.

The London InterBank Offered Rate (LIBOR) was mostly lower. The 6-month LIBOR fell to 0.513 percent and the 1-year LIBOR fell to 0.846 percent.

30-Year Fixed Mortgage Rates

The average 30-year fixed mortgage rate advanced four bps to 3.441 percent (see the mortgage rate chart below). The difference between the 10-year note yield and the 30-year mortgage expanded two bps to 1.701 percent.

The average VA and FHA loan rate advanced one point.

HSBC Holdings plc (ADR) (NYSE:HBC) raised their purchase and refinance rate 13 bps to 3.63 percent and 3.88 percent respectively.

U.S. Bancorp (NYSE:USB) raised their conventional rate 13 bps to 3.57 percent.

15-Year FRM and 5/1 ARM

The average 15-year fixed rate mortgage (FRM) fell less than one point to 2.938 percent.

HBC held their 15-year rate unchanged but USB raised rate two bps to 2.82 percent. USB also raised their 20-year loan rate six bps to 3.56 percent.

The average 5-year adjustable rate mortgage (ARM) fell one basis point to 3.051 percent.

Jumbo Mortgages

Jumbo mortgages were lower. The 30-year jumbo mortgage rate fell to 3.827 percent. SunTrust Banks, Inc. (NYSE:STI) raised their jumbo mortgage one point to 4.01 percent.

By: John Waters
Business Reporter

Benchmark Chart:

Thursday 1 Day 5 Day 30 Day 100-Day 100-Day
12/13/12 Benchmark Point Ch. Point Ch. Point Ch. Point Ch. Low
3.250 Prime Rate 0 0 0 0 3.25
3.27 Bond Buyer's 20-yr bond index 0 -2 -41 -48 3.27
2.83 FHLMC 30 yr 30 days RNY 6 6 4 17 1.59
2.85 FHLMC 30 yr 60 days RNY 4 5 3 14 1.68
2.837 FNMA 30 yr 30 days RNY 2 5 -8 1 2.635
2.865 FNMA 30 yr 60 days RNY 2 5 -9 1 2.68
0.209 1 Month LIBOR Rate 0 0 0 -4 0.2075
0.308 3 Month LIBOR Rate 0 0 0 -14 0.308
0.513 6 Month LIBOR Rate 0 -1 -3 -21 0.513
0.846 1 Year LIBOR Rate 0 -1 -3 -22 0.846
2 Call Money 0 0 0 0 2
2.49 20-year Bond Yield Rate * 1 10 -1 38 2.11
1.74 10-year Note Yield Rate * 2 10 -1 31 1.43
0.14 1-Year Note Yield Rate * 0 -4 -4 -3 0.14
0.06 3-month Note Yield Rate * -1 -3 -3 -4 0.06
1.011 11th District Cost of Funds 0 0 -3 -11 1.011
2.430 Difference 3-mo & 20 yr ** 2 13 2 42 2.01
1.701 Difference 10yr Note 30yr Loan 2 -6 -2 -42 1.641858
* Treasury Yields - DAILY
** Pos change - economy to improve soon (probit model)

Mortgage Rate Chart:

Best Syndication News Mortgage Survey
Thursday 1 Day 5 Day 30 Day 100-Day 100-Day
12/13/12 National Average APR* Point Ch. Point Ch. Point Ch. Point Ch. Low
3.441% Average 30 yr fixed 4 4 -3 -11 3.31%
3.930% Average 30 yr FHA 1 1 -14 -4 3.81%
3.697% Average 30-yr VA 1 1 0 -7 3.60%
2.938% Average 15 year FRM 0 -1 -9 -20 2.92%
3.051% Average 5/1 ARM -1 -1 -5 -9 3.05%
3.827% 30 Yr Fixed Jumbo 0 2 -11 -30 3.78%
3.016% 15 Yr Fixed Jumbo -1 -1 -7 -19 2.97%
12/13/12 HSBC 1 Day 5 Day 30 Day 100-Day 100-Day
3.09% 15 Year Purchase 0 0 -13 -26 3.09%
3.35% 15 Year Refinance 0 0 -13 -13 3.35%
3.63% 30 Year Purchase 13 13 -13 -25 3.50%
3.88% 30 Year Refinance 13 13 -13 -13 3.75%
3.79% 30 Year FHA/VA Purchase 0 0 0 -13 3.66%
3.92% 30 Year FHA/VA Refinance 0 0 0 -13 3.79%
3.37% 30 Year CommunityWorks 13 13 0 -38 3.12%
3.33% 3/1 YR LIBOR ARM 0 0 0 -17 3.33%
3.34% 5/1 YR LIBOR ARM 0 0 0 -12 3.34%
12/13/12 U.S. Bank 1 Day 5 Day 30 Day 100-Day 100-Low
3.57% 30-Year Fixed 13 1 -1 -3 3.34%
3.56% 20-Year Fixed 6 -3 4 4 3.39%
2.82% 15-Year Fixed 2 -4 -2 -29 2.73%
2.95% 10-Year Fixed 3 -5 -2 -17 2.84%
3.79% FHA 30-Year 0 0 0 0 3.71%
3.43% FHA 15-Year 0 0 15 0 3.29%
3.83% VA 30-Year 0 0 0 0 3.70%
3.32% VA 15-Year 0 0 -13 -25 3.32%
3.54% 3-Year ARM 0 -3 -6 -7 3.54%
3.37% 5-Year ARM 0 0 0 -4 3.32%
3.60% Jumbo 30-Year 0 13 0 -13 3.47%
2.77% Jumbo 15-Year 0 0 0 -25 2.64%
* Average includes more banks than listed

Click here for Current Mortgage Rates Today (MORE BANKS)

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