NEW YORK (CNN/Money) - Consumer mortgage rates continued their upward trend for the week ended April 27, as rates for the 30 year fixed mortgage rose to 6.10 percent from 6.03 percent the previous week.
The average rate for a 30 year home loan stood at 5.63 percent on March 30, roughly one month ago, according to Informa Research Services. Rates for the week ended April 27 varied between 5.21 and 8.35 percent.
Shorter-term mortgages also picked up some steam with 15-year loans averaging 5.42 percent, up from 5.36 percent last week. These rates ranged from 4.35 to 6.99 percent.
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Adjustable rate mortgages (ARMs) advanced to 4.21 percent from 4.14 percent last week with a range of 2.61 to 7.35 percent.
Below are the rates for three key mortgage products from five top national mortgage lenders. You can compare rates from more institutions with the rate-search tools above.
MORTGAGES
*TOP NATIONAL LENDERS
As of April 27, 2004
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15 Yr Conforming |
30 Yr Conforming |
1 Yr Adjustable |
| Institution |
Rate |
APR |
Pts |
Rate |
APR |
Pts |
Rate |
APR |
Pts |
| Washington Mutual |
5.500 |
5.588 |
0.250 |
6.250 |
6.307 |
0.250 |
4.250 |
4.210 |
0.250 |
| Wells Fargo |
5.375 |
5.455 |
0.250 |
6.125 |
6.174 |
0.250 |
4.125 |
4.076 |
0.125 |
| Bank of America |
5.375 |
5.428 |
0.214 |
6.000 |
6.089 |
0.230 |
4.125 |
3.903 |
0.055 |
| Countrywide |
5.875 |
5.911 |
0.000 |
6.250 |
6.284 |
0.125 |
4.000 |
4.124 |
0.000 |
| National City Mortgage |
5.750 |
5.845 |
0.000 |
6.125 |
6.340 |
0.000 |
4.125 |
4.207 |
0.000 |
Mortgage rates are based on a purchase of a single family, owner occupied residence requiring 20 down payment. Conforming loan amount up to $333,700, Jumbo up to $650,000.
*Top National Lenders based by $ amount funded.
Source: Informa Research Services, Inc., 800-848-0218. © 2004. All rights reserved. May not be reproduced or retransmitted in any form without express written consent of Informa Research Services, Inc.
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