(LoanSafe.org) - This second week of March begins with very little mortgage rate activity at the top lenders we study daily.Both home purchase and refinance programs at Wells, Chase, and B&A reveal a couple of decreases this morning, while US Bank shows that they have a couple increases in store this morning.
At Wells Fargo Home Mortgage, FHA 30-year fixed loans decreased under their purchase program, and typical 30-year fixed loans decreased under the lender’s refinance program. 5-year ARMs revealed decrease as well, while FHA 5-year ARMs showed increase for home loan shoppers today.
Over at Chase Mortgages, it appears that only 5-year ARMs under their refinance program was the only decrease for today.
At BofA, 30-year fixed rates decreased under their purchase program and 30-year fixed / interest only loans decreased under their refinance program.
US Bank showed very little activity for their customers. 15-year fixed loans and FHA 30-year fixed rates both increased today.
Wells Fargo Home Purchase Rates:
30-year fixed: 5.000%
30-year fixed FHA: 4.750%
15-year fixed 4.250%
5-year ARM: 3.500%
5-year ARM FHA 3.750%
Wells Fargo Refinance Rates:
30-year fixed: 5.000%
30-year fixed FHA: 4.750%
15-year fixed 4.250%
5-year ARM: 3.500%
5-year ARM FHA 3.750
Chase Home Purchase Rates:
30-year fixed 5.000%
15-year fixed: 4.125%
7/1 ARM 3.750%
5/1 ARM 3.250%
Chase Refinance Rates:
30-year fixed 5.000%
15-year fixed: 4.125%
7/1 ARM 3.875%
5/1 ARM 3.250%
Bank of America Home Purchase Rates:
30-year fixed 4.750%
5-year ARM 3.250%
30-year fixed rate, interest only 5.375%
5-year ARM, interest only 3.625%
Bank of America Refinance Rates
30-year fixed 4.875%
5-year ARM 3.375%
30-year fixed rate, interest only 5.375%
5-year ARM, interest only 3.750%
US Bank Fixed Rates
30-year fixed 4.750%-4.950%
20-year fixed 4.500%-4.750%
15-year fixed 3.950%-4.375%
10-year fixed 3.750%-4.000%
FHA 30-year fixed 4.875%
FHA 15-year fixed 4.250%
US Bank ARMS
3-year ARM 2.750% – 3.250%
5-year ARM 3.250% – 3.500%
Maximum Original Principal Balance for Loans Closed in 2011
Places: Continental United States Alaska, Hawaii, Guam
Units General Higher Cost General Higher Cost
1 $417,000 $729,750 $625,500 $938,250
2 $533,850 $934,200 $800,775 $1,201,150
3 $645,300 $1,129,250 $967,950 $1,451,925
4 $801,950 $1,403,400 $1,202,925 $1,804,375
The limit may be lower for a specific high-cost area; use the Loan Limit Look-Up Table above to see limits by location. These limits are the same as the 2010 high-cost area loan limits and apply to all loans originated on or before September 30, 2011. Loans originated on or after October 1, 2011, will use the “permanent” high-cost area loan limits established by FHFA under a formula of 115% of the 2010 median home price, up to a maximum of $625,500 for a 1-unit property in the continental U.S.
