Mortgage Interest Rates Lower Except In Los Angeles – Chicago Seattle Dallas Miami And Buffalo New York Lower In April
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Buffalo New York, Chicago, Dallas, Los Angeles, Miami, Mortgage Interest Rates, seattle April 8th, 2008(Best Syndication) The mortgage interest rates have risen in the Los Angeles area since our last survey in March. Union Bank has a rate of 6.644 percent with fees of $584. Although Quicken Loans had a lower rate of 6.044, we sorted by fees and then rates. Quicken had fees of $1,400 on their loan. For our survey, the APR (annual percentage rate) is based on new purchase loans between $300,001 and $417,000. Rates for refinancing and larger jumbo loans may vary.
Last month local lender rates were as low as 6.147 percent with $690 in fees. Today we found Bank of America rates to be 6.788 percent with $1,155 in fees. Of course there are many variables involved in determining rates and fees, and your credit history will also be a determining factor.
In Buffalo New York we found Lake City Mortgage to have rates of 5.905 with $960 in fees. This is much lower than last month when we found rates of 6.155 percent with $950 in fees. We keep an eye out for local lenders in our effort to get a localized interest rate. We found Countrywide to have a rate of 6.162 with $1,175 in fees. All of the rates in our surveys are based on a 30 year fixed rate mortgage. We found rates in Seattle Washington to be 6.304 with $1,700 in fees. The local Frontier Bank had this rate. This is down for last month’s rate of 6.651 with $815 in fees. But here again, there were other nationwide lenders with lower rates including Virtual Bank and AimLoan.com.
In Dallas Texas we found a rate of 6.413 with fees of $1,179 from Comerica Bank. This is down from 6.538 percent last month with fees of $1,179. In our surveys last month we saw rates on the rise, so this could be a welcome relief for those who can qualify for available loans right now.
Miami Florida saw rates of 6.136 with fees of $350 from Regions Bank. This bank has offices in the southeast including Florida. This is down from last month when we saw rates of 6.295 and $1,423 in fees. Another local bank, AmTrust Bank had rates of 6.277 percent with fees of $869.
Our final location for comparison is Chicago Illinois. We found rates as low as 5.885 percent and fees of $350 from First Savings Bank of Hegewisch. That is much lower than last month when the lowest local rate was 6.26 percent and fees of $325. Another institution, Hartland Mortgage Centers, even had rates of 5.561 percent, but the fees were $2,000.
Overall, rates are down across the country except in Los Angeles.
By Dan Wilson Best Syndication News Writer
Tags: Buffalo New York, Chicago, Dallas, Los Angeles, Miami, Mortgage Interest Rates, seattle
