Mortgage Rates Today

Mortgage Interest Rates Today – Mixed with some changes at PNC SunTrust and BofA

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(Best Syndication News) There were some changes in interest rates today along with the indexes used to determine them (see charts below). SunTrust, PNC and Bank of America made some changes.

Benchmarks

While the 6-month LIBOR (London InterBank Offered Rate) remained level at 0.401, the 1-year, 3-month and 1-month LIBOR rates fell (see the benchmark chart below). The 1-year LIBOR fell to 0.725 percent.

Most U.S. Treasury yield rates did not change today. The 20-year bond yield did increase to 3.94 percent. The 10-year note held steady at 3.01 percent.

Current Mortgage Rates Today – U.S. Bank and Chase Advance but Bank of America Lower

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(Best Syndication News) Most lenders followed the benchmarks higher today with the exception of Bank of America (see mortgage rate chart below). The five-day trend is still lower.

Benchmark

The London InterBank Offered Rates (LIBOR) remained steady Monday, but over the last week these benchmarks are still lower (see benchmark table below). For the week, the 6-month LIBOR rate is down to 0.401.

In the United States, bond rates were higher. The 10-year Treasury Note yield was higher to 3.01 percent. The one-year Note yield was level at 0.18 percent. The 3-month Treasury Bill was also higher to 0.5 percent. Treasuries yield rates are sometimes referred to as "Constant Maturity Treasury" rates, or CMTs.

Current Mortgage Rates – Lower at Chase but Mixed at Citibank and U.S. Banks

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(Best Syndication News) Interest rates were lower across the board,while benchmarks, including the LIBOR and 1-year CMT,were both lower (see charts below).

Benchmarks

Most benchmark indexes were lower, but some remained unchanged (see benchmark chart below). The 6-month London InterBank Offered Rate (LIBOR) fell less than one basis point to 0.401. Similar to the prime rate in the United State, the LIBOR is what banks in the UK will charge other banks. Banks typically adjust their adjustable mortgages according to the 6-month LIBOR.

Current Mortgage Interest Rates – Chase and PNC Lower Rates while Bank of America Raises Them

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(Best Syndication News) Mortgage rates declined slightly today while the benchmarks were mixed (see charts below). Some banks raised their rates while others lowered them.

Benchmarks

Some of the benchmarks advanced today while others fell (see benchmark chart below). Banks will use benchmarks to help them determine their interest rate. Adjustable rate mortgages will be periodically adjusted based on one of these benchmark indexes.

Current Mortgage Rates Today – Steep Declines at Citibank HSBC and SunTrust

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(Best Syndication News) All major banks lowered their interest rates today (see charts below). Chase, Bank of America and Wells Fargo were all lower. The benchmarks that banks use to determine their rates were lower, including the 11th District Cost of Funds Index (COFI) and 10-Year Notes.

Benchmarks

The Federal Home Loan Bank of San Francisco lowered their 11th District Cost of Funds Index rate to 1.359 percent today (see benchmark chart below). Banks use this index as a benchmark to determine their mortgage and loan rates. This rate only changes once a month.

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