Washington DC Mortgage Rates – Week of January 27, 2012

Written by: Scott Sery

The Primerates.com survey of Washington DC mortgage rates offered by the largest area banks & credit unions in the DC area showed rates basically unchanged in the last several weeks.  Capital One (www.capitalone.com), SunTrust Bank (www.suntrust.com) and Wells Fargo (www.wellsfargo.com) held their rates at 3.88% on 30-year fixed -rate conforming loans for well-qualified Washington area borrowers.  Most other lenders rates remain near 4% with Branch Banking and Trust (www.bbt.com) topping out the list at 4.31%.

When shopping for a mortgage, research is key.  If you have made it this far you have already done, or you are currently doing, your research on finding the best rates.  However, there is more to be done as far as which home to buy.  Carefully planning out just how much space is necessary, as well as desired features, will allow you to narrow down the possibilities.  After discovering which houses meet your criteria, more research comes into play to determine which area of the city is best.  Searching the city website should lead to a crime map.  A house may seem like a great deal until you determine that it is located in an area of town with more than average crime.  Surrounding businesses can be just as damaging.  Nearby factories can cause a terrible smell and undesired noise, or an airport can cause many sleepless nights.  Getting finances in order and understanding mortgage terms is the first step, the next is finding the right house, in the right neighborhood, for just the right price.

Top Washington DC Area Banks and Credit Unions

As of

30-year Fixed

15-year Fixed

5/1 ARM

Capital One

01/29/12

3.88%

3.25%

2.75%

Wells Fargo

01/27/12

3.88%

3.00%

2.13%

SunTrust Bank

01/27/12

3.88%

3.13%

2.38%

Bank of America

01/27/12

4.00%

3.38%

2.88%

PNC Bank National

01/29/12

4.13%

3.38%

NA

Citibank

01/27/12

4.13%

3.38%

NA

HSBC Bank

01/27/12

4.13%

3.50%

3.00%

Branch Banking and Trust

01/27/12

4.31%

3.35%

NA

 

Listed rates from banks, thrifts and credit union 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.


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Washington DC Mortgage Rates – Week of January...

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