Credit and Loans

Current Mortgage Rates Today – Bank of America and KeyBank raise loans rates again

Chart 15-Year Mortgage

(Best Syndication News) Mortgage interest rates advanced while the secondary lenders lowered their yield rates (see the mortgage rate charts below). JPMorgan Chase and PNC lowered some of their loan products, but Bank of America and KeyBank raised them.

Benchmarks

Confidence that a resolution to the fiscal cliff crisis helped push stock prices higher Monday. Reports from Washington over the weekend hinted that House of Representatives Speaker John Boehner was willing to allow taxes to increase on Americans earning $1 million or more.

Current Mortgage Rates Today – Citibank Lowers Loan Rates while PNC Raises Them

Graph 30-Year FRM

(Best Syndication News) Mortgage interest rates dropped today in response to competition for U.S. government securities (see the mortgage rate charts below). PNC and the secondary lenders raised their rates; however Citigroup, Bank of America, and some other major banks went in the opposite direction.

Benchmarks

Gas prices dropped more than seven percent in November. The average price for a gallon of gas fell to $3.30. The lower energy prices contributed to lower consumer costs, according to the Bureau of Labor Statistics.

Current Mortgage Rates Today – Loans Advanced at HSBC and U.S. Bank

5-Year ARM

(Best Syndication News) Mortgage rates were higher in the United States today after the benchmarks continue to rise (see the mortgage rate charts below). Lenders, including SunTrust, KeyBank, HSBC, and U.S. Bank, raised their loan products.

Benchmarks

Little progress has been made concerning the fiscal cliff as both sides continue to debate the issues in public. House Speaker John Boehner said the President is unwilling to cut spending while Democrats blame the Republicans for not yielding on taxes. Every day the odds that there will be an agreement between the two sides diminishes.

Current Mortgage Rates Today – Conventional loan rates Rise while VA and ARM products drop

Graph of 15-Year Mortgage

Best Syndication News

(Best Syndication News) Mortgage rates were mostly higher today as lenders reacted to a rising secondary market (see the mortgage rate charts below). JPMorgan Chase, Wells Fargo, and Citibank raised their loan rates while U.S. Bank and BofA lowered them.

Benchmarks

The stock indexes were mixed despite assurances from the Federal Reserve that they would continue to buy U.S. securities to keep interest rates low. Markets usually react positively to continued stimulus and easing, however all three major indexes jumped after the announcement but slowly dropped by the closing bell.

Current Mortgage Rates Today – Loans higher at SunTrust and KeyBank

Graph of VA Mortgages

(Best Syndication News) Mortgage rates trended higher today as money continued to flow into equities (see the mortgage rate charts below). Bank of America and U.S. Bank lowered their rates, however KeyBank, SunTrust, and JPMorgan Chase raised them.

Benchmarks

Investors are losing confidence that an agreement will be reached to avoid the fiscal cliff. Democrats are calling for an increase in taxes and Republicans call for specific spending cuts. If the fiscal cliff is not averted there will be automatic tax increases and major spending cuts.

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