Credit and Loans

Current Mortgage Rates Today – Wells Fargo and U.S. Bank among lenders raising rates

Graphic 15-Year FRM

(Best Syndication News) Mortgage interest rates ascended today despite a sharp downturn in equity prices (see the mortgage rate charts below). JPMorgan Chase, SunTrust, KeyBank, Wells Fargo, and U.S. Bank raised their rates unexpectedly.

Benchmarks

When President Barack Obama reiterated his position Wednesday on tax-cuts for the middle-class but not the wealthy, it reminded investors of the vast gulf between the two political parties. Entrenched lawmakers are preparing for a meeting later this week to hash-out their differences, but the uncertainty drove the Dow Jones Industrial Average (DJIA) index down more than 185 points.

Current Mortgage Rates Today – JPMorgan Chase and SunTrust make changes

Graph of VA loans

(Best Syndication News) Mortgage interest rates advanced today as lenders followed the secondary lending market (see the mortgage rate charts below). Almost all of the major banks, with the exception of KeyBank and Wells Fargo, raised their loan rates.

Benchmarks

Congress went back to work Tuesday and with less than two months left to avoid the fiscal cliff, lawmakers will be busy. The House of Representatives will remain in Republican hands while the Senate stays with the Democrats. On Friday President Barack Obama will sit down to meet with congressional leaders to negotiate tax and spending issues.

Current Mortgage Rates Today – Loans Higher as KeyBank and Bank of America make changes

Graph of FHA mortgages

(Best Syndication News) Although the weekly trend is lower, some lenders did raise their mortgage interest rates today (see the mortgage rate charts below). Banks were closed for Veterans’ Day but some, including Bank of America and KeyBank, raised their rates.

Benchmarks

The earnings season has been frustrating for many investors as companies report disappointing returns. Profits were up only 2.3 percent in the third quarter, according to S&P Capital IQ; but Thompson / Reuters calculates an overall loss in the market.

Current Mortgage Rates Today – Citibank and PNC Lower Rates

30-Year mortgage chart

(Best Syndication News) Mortgage interest rates slipped while the secondary lenders provided mixed results (see the mortgage rate charts below). Citibank and PNC were among the lenders lowering their loans.

Benchmarks

Stocks were higher Friday after two-straight days of harsh declines. Some of the worry involved the looming fiscal cliff while investors also adjusted their holdings to the certainty of Health Care Reform (Obamacare) and the possibility of higher taxes.

Current Mortgage Rates Today – Loans mixed as the benchmarks drop

5-Year ARM chart

(Best Syndication News) Mortgage interest rates advanced slightly today as lenders adjusted to the declining equity markets (see the mortgage rate charts below). SunTrust, Citibank, and Bank of America lowered their loan rates while JPMorgan Chase and U.S. Bank raised them.

Benchmarks

Equity markets continued to slide as investors began to accommodate the prospect of a fiscal cliff. The Standard and Poor’s rating agency put the odds of going off the fiscal cliff at 15 percent while the Congressional Budget Office (CBO) said if lawmakers fail to extend the debt ceiling the economy could be driven into recession.

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