Portland, OR Mortgage Rates Survey – Week of February 27, 2012

Written by: BetterFinancePath Staff

According to a recent Primerates.com survey of Portland, OR mortgage rates offered by the largest area banks & credit unions, one Portland, OR institution offered rates below 4.000% on 30-year fixed-rate conforming loans in the Portland, OR area for well-qualified borrowers. The Umpqua Bank (www.umpquabank.com) offered one of the lowest rates in the country with 3.75%. Five other institutions offered rates around 4.00% with the JPMorgan Chase (www.jpmorganchase.com) offering the highest rates in the city with 4.13%.

While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan.

Top Portland, OR Area Banks and Credit Unions

As of

30 Yr-Rate

30 Yr- APR

15 Yr- Rate

15 Yr- APR

5/1 ARM-IR


U.S. Bank 02/27/2012 4.00% 4.17% 3.25% 3.52% 2.38% 3.48%
Wells Fargo Bank 02/27/2012 4.00% 4.18% 3.13% 3.44% 2.38% 3.20%
JPMorgan Chase 02/27/2012 4.13% 4.20% 3.38% 3.48% 2.25% 3.02%
KeyBank National 02/27/2012 4.00% 4.07% 3.35% 3.47% 2.81% 3.69%
Umpqua Bank 02/27/2012 3.75% 3.87% 3.00% 3.21% NA NA
Bank of the West 02/27/2012 4.00% 4.13% 3.25% 3.43% 2.88% 3.26%


Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates.


Portland, OR Mortgage Rates Survey – Week of...

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