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Monday, November 30, 2009

Best Mortgage Rates at Top Banks

From "Best Mortgage Rate Survey; A survey of mortgage rates at the top banks"
(Click that link if this is hard to read in your browser)

Conforming Loans : (For Loan of $400,000)

Best Mortgage Rates
Conforming APR (%)
Bank Name
15-yr
Fixed
30-yr
Fixed
5-YR
ARM
BofA - Bank of America (BAC) 0.75pts
4.439
1.125pts
4.893
0.875pts
3.583
JP Morgan Chase Bank (JPM)
(JPM Bought WaMu -Washington Mutual)
1.00pts
3.450
1.50pts
4.668%
1.00pts
3.45
Citibank (C) 0.125pts
4.772
0.25pts
5.172

HSBC Bank North America - 0 pts
4.738
0 pts
5.014
0 pts
3.795
Wells Fargo Bank (WFC Bought Wachovia)
4.573
4.939
3.601
Data From Best Mortgage Rates - Top Lender Survey

Jumbo Loans : For Loan Amounts over $417,000

Best Mortgage Rates with Best Credit Scores
Jumbo APR (%)
Bank Name
15-yr
Fixed
30-yr
Fixed
5-YR
ARM
BofA - Bank of America (BAC) 1.250
4.504
0.875pts
4.990
1.00pts
3.678
JP Morgan Chase Bank (JPM)
(JPM Bought WaMu -Washington Mutual)
1.375pts
6.013
1.125pts
6.009
1.00pts
3.901
Citibank (C)


HSBC Bank North America -


Wells Fargo Bank (WFC Bought Wachovia )
5.895
4.012
Data From Best Mortgage Rates - Top Lender Survey

Mortgage Rates - National Average - 11/30/09

CURRENT1 MONTH
PRIOR
3 MONTH
PRIOR
6 MONTH
PRIOR
1 YEAR
PRIOR
30-Year Fixed4.975.185.295.085.76
15-Year Fixed4.484.644.724.785.5
5/1-Year ARM4.244.274.584.65.95
1-Year ARM3.923.913.974.285.99
30-Year Fixed Jumbo5.896.086.256.597.26
15-Year Fixed Jumbo5.445.575.845.956.45
5/1-Year ARM Jumbo4.814.74.985.166.18
Data From Best Mortgage Rates - Top Lender Survey

For more info, see:


1 comment:

  1. Fed to Conduct ‘Small Scale’ Triparty Reverse Repos11/30/2009 12:59:00 PM

    Nov. 30 (Bloomberg) -- The Federal Reserve Bank of New York said it will conduct “small scale, real value” three-way reverse repurchase transactions as the central bank prepares for an eventual withdrawal of its unprecedented monetary stimulus.

    The tests will be conducted in coming weeks “as a matter of prudent advance planning by the Federal Reserve,” the New York Fed said in a statement today. The testing “does not represent any change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future.”
    ....
    Treasury Notes

    Treasury notes were little changed today. The 10-year note’s yield increased one basis point, or 0.1 percentage point, to 3.21 percent at 1:36 p.m. in New York.
    ...
    In a reverse repo, the Fed loans securities for a set period. At maturity, the securities are returned to the Fed, and the cash to the dealers.
    ...
    The New York Fed said on Oct. 19 that it was working with market participants on how it would use reverse repurchase agreements to help drain cash. It also said the central bank was considering expanding the counterparties for reverse repo operations beyond the 18 primary dealers.

    Full story http://www.bloomberg.com/apps/news?pid=20601087&sid=aGSUUljQKSUk&pos=3

    ReplyDelete

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