Sacramento Mortgage Rates Survey – Week of July 30, 2012

Written by: BetterFinancePath Staff

According to a recent survey of Sacramento mortgage rates offered by the largest area banks & credit unions, five Sacramento institutions offered rates below 4.00% on 30-year fixed-rate conforming loans in the Sacramento area for well-qualified borrowers. Umpqua Bank ( offered rates at 3.38%. River City Bank ( offered rates at 3.50%. Wells Fargo ( and JPMorgan Chase ( offered rates at 3.88%. The U.S. Bank National ( offered rates at 3.95%. One institution, namely El Dorado ( offered rates above 4.00% with 4.63%.

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 07/28/2012 3.88% 4.05% 2.88% 3.18% 2.38% 3.12%
U.S. Bank National 07/28/2012 3.95% 4.01% 3.25% 3.36% 2.88% 3.50%
JPMorgan Chase 07/28/2012 3.88% 3.97% 3.00% 3.16% 2.50% 3.11%
El Dorado 07/28/2012 4.63% 4.71% 3.25% 3.39% NA NA
Umpqua Bank 07/28/2012 3.38% 3.52% 2.63% 2.87% NA NA
River City Bank 07/28/2012 3.50% 3.61% 3.00% 3.16% 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 July...

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