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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 |
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 | |
Mortgage Rates - National Average - 11/30/09
| CURRENT | 1 MONTH PRIOR | 3 MONTH PRIOR | 6 MONTH PRIOR | 1 YEAR PRIOR | |
| 30-Year Fixed | 4.97 | 5.18 | 5.29 | 5.08 | 5.76 |
| 15-Year Fixed | 4.48 | 4.64 | 4.72 | 4.78 | 5.5 |
| 5/1-Year ARM | 4.24 | 4.27 | 4.58 | 4.6 | 5.95 |
| 1-Year ARM | 3.92 | 3.91 | 3.97 | 4.28 | 5.99 |
| 30-Year Fixed Jumbo | 5.89 | 6.08 | 6.25 | 6.59 | 7.26 |
| 15-Year Fixed Jumbo | 5.44 | 5.57 | 5.84 | 5.95 | 6.45 |
| 5/1-Year ARM Jumbo | 4.81 | 4.7 | 4.98 | 5.16 | 6.18 |
For more info, see:
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Top Lenders Survey
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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.
ReplyDeleteThe 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.”
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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.
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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.
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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