Sacramento Mortgage Rates Survey – Week of February 13, 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 below 4.000% on 30-year fixed-rate conforming loans in the Sacramento area for well-qualified borrowers.  Wells Fargo ( offered rates at 3.875%, the Umpqua Bank ( offered 3.750% rates, and the River City Bank ( ) offered the lowest rate with 3.500%. They offered an Annual Percentage Rate of 4.054%, 3.869%, and 3.605% respectively. Other five banks offered rates at about 4.000% and the El Dorado ( offered the highest rate with 4.750%.

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


Wells Fargo 02/13/12 3.875% 4.054% 3.125% 3.438% 2.250% 3.156%
Bank of America 02/13/12 4.125% 4.276% 3.500% 3.729% 2.750% 3.293%
U.S. Bank National 02/13/12 4.000% 4.200% 3.250% 3.596% 2.500% 3.528%
JPMorgan Chase 02/13/12 4.125% 4.219% 3.375% 3.538% 2.250% 3.044%
Bank of the West 02/13/12 4.125% 4.188% 3.375% 3.485% 3.000% 3.304%
El Dorado 02/13/12 4.750% 4.830% 3.625% 3.760% NA NA
Umpqua Bank 02/13/12 3.750% 3.869% 3.125% 3.334% NA NA
Union Bank 02/13/12 NA NA 3.875% 4.016% 3.250% 3.570%
River City Bank 02/13/12 3.500% 3.605% 3.000% 3.187% 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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