Mortgage Rates Today

Current Mortgage Rates Today – Loans Fall Despite Good Economic News

Graph of 5-year ARM

(Best Syndication News) Mortgage interest rates fell slightly as some lenders deferred loan rate reductions following the market closures earlier in the week (see the mortgage rate charts below). Citibank and SunTrust raised their rates while KeyBank and Wells Fargo lowered them.

Benchmarks

Stocks rebounded Thursday after a mostly down-day Wednesday following the closure of the markets on Monday/Tuesday because of Hurricane Sandy. Good economic news provided the confidence investors needed to take risks in the equity markets.

Current Mortgage Rates Today – Citibank and SunTrust lower loan rates

Graph of 15-year FRM

(Best Syndication News) Mortgage interest rates edged higher today as nervous investors finally get a chance to trade on Wall Street following the deluge of Hurricane Sandy (see the mortgage rate charts below). PNC raised their rates while Citigroup and SunTrust lowered them.

Benchmarks

The New York Stock Exchange and the NASDAQ reopened Wednesday after a historic two-day closure due to bad weather. Some businesses, like companies involved in the transportation industry, may benefit from the efforts to bring New Yorkers back to work. Sales at the Home Depot, Inc. (NYSE:HD) are expected to rise as homeowners and businesses start to repair the damage caused by Hurricane Sandy.

Current Mortgage Rates Today – Loans higher at many lenders including PNC and U.S. Bank

Graph of VA Loan Rates

(Best Syndication News) Mortgage interest rates edged higher today as U.S. stock markets remained closed due to bad weather (see the mortgage rate charts below). Secondary lenders and the government delayed their reports as Hurricane Sandy strikes New York and Washington D.C.. U.S. Bank, PNC, and KeyBank raised their rates, however JPMorgan Chase lowered them.

Benchmarks

Flights were cancelled, emergencies were declared, and entire cities were evacuated in preparation of Hurricane Sandy. While rescue efforts continue, early damage estimates place the cost of the storm between $10 billion and $20 billion. Last year Hurricane Irene caused $10 billion in damages.

Current Mortgage Rates Today – Wells Fargo and Bank of America Lower Rates Despite Market Closure

Chart of FHA Loan Rate

(Best Syndication News) Mortgage interest rates were lower today as lenders adjusted to the shifting secondary lending markets (see the mortgage rate charts below). JPMorgan Chase, PNC, Bank of America, and Wells Fargo were among the lenders making changes.

Benchmarks

Stock markets were closed in New York Monday as Hurricane Sandy roared into the eastern seacoast. New York, New Jersey, and other northeastern states received the brunt of the storm.

Current Mortgage Rates Today – JPMorgan Chase and KeyBank Lower Rates

graph of 30-year loans

(Best Syndication News) Most banks lowered their loan rates today in response to a drop in the secondary lending market (see the mortgage rate charts below). Bank of America, JPMorgan Chase, and KeyBank, were among the lenders lowering their mortgage interest rates.

Benchmarks

U.S. stock indexes trended lower Friday before rebounding ahead of the closing bell. Although the economic growth rate is still crawling at a snail’s pace, investors were pleasantly surprised that it beat analyst expectations. Consumer sentiment also continues to improve.

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