Current Mortgage Rates for Tuesday April 29, 2014

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Refinance-Mortgage-RatesBy Moe Bedard

 

Current mortgage rates this Tuesday morning are mostly stable. Our research did reveal that some loan programs saw rates both decrease and increase at a couple of the top lenders in the nation.

For rates based on a conventional loan programs; the 30-year fixed rate (FRM) mortgage decreased at Chase under their refinance program. The FHA 5-year ARM increased at Wells Fargo under their refinance program.

For rates based on direct portfolio loan programs from the top lenders; The 7-year ARM increased at Chase under their home purchase program, while the 15-year FRM decreased under their refinance program. The FHA 30-year and 15-year FRM decreased along with the VA 15-year FRM at US Bank.

Jumbo mortgage rates today saw the FHA 5-year ARM increase at Wells Fargo under their refinance program. The 7-year and the 5-year ARM increased at Citi under their refinance program.

Additional loan products, rates and lock periods are available. If you are looking for the best mortgage rates, please call LoanSafe today at 800-779-4547!

Summary for average mortgage rates:

Bank of America Home Purchase Rates

30-Year Fixed Rates 4.125% — APR 4.285%
20-Year Fixed Rates 4.125% — APR 4.253%
15-Year Fixed Rates 3.375% — APR 3.583%
5-Year ARMs 3.000% — APR 2.914%
7-Year ARMs 3.250% — APR 3.062%
10-Year ARMS 3.625% — APR 3.389%

Bank of America Refinance Rates

30-Year Fixed Rates 4.250% — APR 4.465%
20-Year Fixed Rates 4.125% — APR 4.373%
15-Year Fixed Rates 3.500% — APR 3.845%
5-Year ARMs 3.000% — APR 3.015%
7-Year ARMs 3.250% — APR 3.154%
10-Year ARMS 3.750% — APR 3.530%

Chase Home Purchase Rates

30-Year Fixed Rates 4.125% — APR 4.219%
15-Year Fixed Rates 3.375% — APR 3.520%
7-Year ARMs 3.250% — APR 3.079%
5-Year ARMs 3.125% — APR 2.958%

Chase Refinance Rates

30-Year Fixed Rates 4.250% — APR 4.366%
15-Year Fixed Rates 3.375% — APR 3.575%
7-Year ARMs 3.375% — APR 3.127%
5-Year ARMs 3.250% — APR 2.992%

Current mortgage rates for Home Purchases with a loan amount of $215,000 at Chase:

Rate APR Points Months Amount

30-year Fixed Rate: 4.250% 4.334% 1.000 359 $1,057.67
15 Year Fixed Rate 3.500% 3.609% 0.750 179 $1,537.00
7/1 LIBOR ARM 3.375% d 3.127% 1.125 84 $950.51
5/1 LIBOR ARM 3.250% 3.002% 1.000 60 $935.69

Refinance Rates for a loan amount of $215,000 at Chase:

30-year Fixed Rate: 4.500% 4.564% 0.750 359 $1,089.37
15 Year Fixed Rate 3.500% d 3.664% 1.125 179 $1,537.00
7/1 LIBOR ARM 3.500% 3.176% 1.000 84 $965.45
5/1 LIBOR ARM 3.375% 3.046% 1.000 60 $950.51

Citi Home Purchase Rates

30-Year Fixed Rate 4.250% — APR 4.440%
20-Year Fixed Rate 4.000% — APR 4.273%
15-Year Fixed Rates 3.375% — APR 3.719%
10-Year ARM 3.750% — APR 3.580%
7-Year ARM 3.375% – APR 3.259%
5-Year ARM 3.125% — APR 3.087%

Citi Refinance Rates

30-Year Fixed Rate 4.375% – APR 4.578%
20-Year Fixed Rate 4.125% — APR 4.387%
15-Year Fixed Rates 3.500% — APR 3.847%
10-Year ARM 3.875% — APR 3.650%
7-Year ARM 3.500% — APR 3.310%
5-Year ARM 3.250% — APR 3.133%

US Bank Mortgage Rates

10YR ARM – APR may increase after consummation 3.750% 0.250% 0.000% 3.494% 4.63
5YR ARM – APR may increase after consummation 2.875% 0.125% 0.000% 2.943% 4.15
3YR ARM – APR may increase after consummation 2.625% 0.125% 0.000% 2.888% 4.02
Conforming Fixed – 30 Year 4.250% 0.750% 0.000% 4.377% 4.92
Conforming Fixed – 20 Year 3.950% 0.875% 0.000% 4.138% 6.03
Conforming Fixed – 15 Year 3.375% 1.000% 0.000% 3.630% 7.09
Conforming Fixed – 10 Year 3.000% 0.875% 0.000% 3.339% 9.66
FHA – 30 Year Fixed 4.000% 0.375% 0.000% 4.522% 4.85
FHA – 15 Year Fixed 3.375% 0.500% 0.000% 4.002% 7.19
VA – 30 Year Fixed 4.250% 0.000% 0.000% 4.591% 5.08
VA – 15 Year Fixed 3.625% d 0.000% 0.000% 4.212% 7.45

Wells Fargo Home Purchase Rates

30-Year Fixed Rates 4.500% — APR 4.504% – $1,216.00
FHA 30-Year Fixed Rates 4.250% — APR 5.252% – $1,459.00
15-Year Fixed Rates 3.625% — APR 3.687% – $1,730.00
5-Year ARM 3.375% — APR 3.040% – $1,061.00
FHA 5-Year ARMs 3.250% — APR 3.454% – $1,321.00

Wells Fargo Refinance Rates

30-Year Fixed Rates 4.625% — APR 4.652% – $1,028.00
FHA 30-Year Fixed Rates 4.250% — APR 5.339% – $1,216.00
15-Year Fixed Rates 3.750% — APR 3.832% – $1,454.00
5-Year Arms 3.375% — APR 3.061% – $884.00
FHA 5-Year ARMs 3.625% — APR 3.654% – $1,143.00

Wells Fargo Rates directly from the lender:

Conforming and FHA Loans

30-Year Fixed 4.375% 4.460%
30-Year Fixed FHA 4.250% 5.837%
15-Year Fixed 3.625% 3.772%
5-Year ARM 3.250% 3.001%
5-Year ARM FHA 3.375% i 4.025%

Larger Loan Amounts in Eligible Areas – Conforming and FHA

30-Year Fixed 4.375% 4.417%
30-Year Fixed FHA 4.250% 5.788%
5-Year ARM 3.500% 3.048%

Summary for Jumbo Loan Rates:

Chase Jumbo Home Purchase Rates

30-Year Fixed Rate 4.000% — APR 4.104%
15-Year Fixed Rate 3.750% — APR 3.878%
7-Year ARM 3.250% — APR 3.079%
5-Year ARM 3.000% — APR 2.914%

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