Sacramento Mortgage Rates Survey – Week of April 30, 2012

Written by: BetterFinancePath Staff

According to a recent survey of Sacramento mortgage rates offered by the largest area banks & credit unions, three Sacramento institutions offered rates above 4.00% on 30-year fixed-rate conforming loans in the Sacramento area for well-qualified borrowers. The River City Bank ( offered rates at 3.63%. Wells Fargo ( and Umpqua Bank ( offered rates at 3.88%. Five other institutions offered rates above 4.00% with the El Dorado ( offering rates at 4.75%.

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 Sacramento Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr-APR 15 Yr-Rate 15 Yr-APR 5/1 ARM-IR 5/1 ARM-APR
Wells Fargo 04/29/2012 3.88% 4.05% 3.00% 3.31% 2.25% 3.07%
U.S. Bank National 04/29/2012 4.00% 4.06% 3.38% 3.48% 2.63% 3.55%
JPMorgan Chase 04/29/2012 4.00% 4.06% 3.13% 3.27% 2.38% 3.06%
Citibank 04/29/2012 4.25% 4.38% -99 -99 NA NA
Bank of the West 04/29/2012 4.00% 4.06% 3.13% 3.23% 2.50% 3.05%
El Dorado 04/29/2012 4.75% 4.83% 3.63% 3.76% NA NA
Umpqua Bank 04/29/2012 3.88% 4.02% 3.00% 3.25% NA NA
River City Bank 04/29/2012 3.63% 3.73% 3.00% 3.19% NA NA


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.


Sacramento Mortgage Rates Survey – Week of...

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