(Best Syndication News) Mortgage loan rates were lower today with major changes at Chase and National City Banks (see rate charts below).
30-Year Fixed Mortgage Rates
The average 30-year fixed rate mortgage (FRM) dropped 9 basis points today to 4.329 percent.
Wells Fargo kept their rate the same but Citibank lowered their rate four points to 4.55 percent. PNC (National City Bank) lowered their rate 26 basis points from 4.39 percent to 4.13 percent.
Chase lowered their rate 14 points to 4.44 percent and Bank of America lowered their rate nine points to 4.05 percent. Over the past 30 days the rate has dropped 97 points.
15-Year FRM and 5-Year ARM Rates
The average 15-year fixed mortgage rate dropped seven points to 3.886 percent. Wells Fargo lowered their rate 13 points to 3.94 percent.
Citibank lowered their rate 11 points to 4.09 percent.
PNC lowered their rate 15 points to 3.86 percent and Chase lowered theirs 11 points to 3.99 percent. Bank of America raised their rate two points to 3.64 percent.
The average 5-year adjustable rate was near even at 3.186 percent.
Jumbo Loan Rates
The average 30-year fixed jumbo loan rate rose three basis points to 4.967 percent today. The average 15-year jumbo rate dropped five points to 4.130 percent.
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