Credit and Loans

Current Mortgage Rates Today – Citibank and KeyBank among lenders raising loans

15-Year FRM

(Best Syndication News) Mortgage interest rates continued to move higher despite a stumble in the equity markets (see the mortgage rate charts below). JPMorgan Chase, SunTrust, Citigroup, and KeyBank were among the banks raising their loan products.

Benchmarks

Markets in the United States were only open for half the day but that didn’t stop a quick sell-off. Most of the economic news last week was positive, but the fiscal cliff uncertainty continued to put downward pressure on the equity markets.

Current Mortgage Rates Today – Loans slide at SunTrust and JPMorgan Chase

Conventional Rate Graph

(Best Syndication News) Mortgage interest rates slipped today as lenders reacted to descending benchmarks (see the mortgage rate charts below). Bank of America, KeyBank, SunTrust, and JPMorgan Chase lowered their conventional loan rates.

Benchmarks

Lack of progress on the fiscal cliff issue produced a sell-off on Wall Street Friday. House of Representatives Speaker John Boehner was unable to rally support for his Plan-B which would have raised taxes on those making over $1 million. His fellow Republicans balked at the idea of raising taxes before they went home for the Christmas break.

Current Mortgage Rates Today – Loan rates drop at U.S. Bank and Citibank

5-year ARM Chart

(Best Syndication News) Mortgage interest rates dropped despite an upswing in the equity markets (see the mortgage rate charts below). SunTrust raised their rates while Bank of America, Citigroup, and U.S. Bank lowered their loan rates.

Benchmarks

Bargain hunters reacted to the lower stock prices Thursday despite more negative rhetoric from Washington. House of Representatives Speaker John Boehner said he would bring a proposal to Congress that would raise taxes on Americans making $1 million or more. Traders were optimistic that a solution would be reached.

Current Mortgage Rates Today – PNC and Bank of America raise their interest rates

Adjustable Rate Mortgages

(Best Syndication News) Mortgage interest rates were mixed today as lawmakers wrangled over a solution to the fiscal cliff (see the mortgage rate chart below). SunTrust lowered their loan rates while JPMorgan Chase, Bank of America, and PNC raised them.

Benchmarks

Despite the threat of a Whitehouse veto, House Republicans will take up House of Representatives Speaker John Boehner’s “Plan-B” to avoid forced austerity in January. Today the Speaker said that over 99 percent of Americans will continue to see tax relief under his plan. It is up to the Democrats now, according to Boehner.

Current Mortgage Rates Today – JPMorgan Chase and SunTrust continue to raise loan rates

Graph of 15-year mortgage

(Best Syndication News) Mortgage interest rates advanced as capital markets migrated back into riskier assets (see the mortgage rate chart below). All of the major banks, including JPMorgan Chase, Bank of America, Citibank, and SunTrust, started moving their rates higher.

Benchmarks

Positive news from Washington propelled the Dow to triple-digit gains two-straight days. Both sides in the fiscal-cliff debate are beginning to compromise. House Speaker John Boehner promised to bring a bill to the floor of Congress this week that would raise income tax rates on those earning $1 million or more.

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