Dallas Mortgage Rates Survey

Written by: Scott Sery

According to a recent Primerates.com survey of Dallas mortgage rates offered by the largest area banks & credit unions, the lending institutions in the Dallas Metroplex offered a range of rates from 3.75% to 4.25%.  Wells Fargo (www.wellsfargo.com) had rates at 3.75% on 30-year fixed -rate conforming loans in the DFW area for well-qualified borrowers.  Capital One (www.capitalone.com) offered rates of 4.00%. Comerica Bank (www.comerica.com) topped them off with a rate of 4.25%

When shopping for a mortgage, it is best not to limit oneself to just the institutions one likes to do business with.  Mortgages are constantly being bought and sold.  The company that originates the mortgage may only be doing so to earn the up-front fees, but have no interest in servicing the loan.  In this case they will sell the loan to another company.  While the terms and conditions of the loan by law must remain the same the company to whom the check is written can, and often will, change.  If the servicing company is different from the originating company the buyer will be notified through the mail.  The best way to shop for a mortgage is to get quotes from the companies offering the lowest rates, find out the fees and costs, then negotiate to obtain the best rates and the best fees.  Remember, even though the lenders may be good at sales, the buyer is the patron, and can walk away at any time.

 

Top Dallas Area Banks and Credit Unions

As of

30-year Fixed

15-year Fixed

5/1 ARM

Wells Fargo

01/10/12

3.75%

3.13%

2.13%

JP Morgan Chase

01/10/12

3.88%

3.25%

2.50%

Compass Bank

01/10/12

3.88%

3.00%

NA

Capital One

01/09/12

4.00%

3.25%

2.88%

Bank of America

01/09/12

4.13%

3.38%

3.00%

Comerica Bank

01/10/12

4.25%

3.34%

2.75%

 

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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Dallas Mortgage Rates Survey

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