California Banking Rates

California Mortgage Loan Rates – April 18, 2011

California home loan rates for a loan amount of $300,000 are looking great these days. A severe recession, coupled with high unemployment and growing foreclosures has forced the Federal Reserve to keep interest rates at historically low levels.

Now is a perfect time to purchase a home in beautiful California if you have the means. Prime borrowers with great credit scores and a large down payment should not have any trouble obtaining the best mortgage rates for the week – browse them below.

A combination of low interest rates and discounted home prices have kept home affordability high this year. See the best California mortgage rates for the week from the list below on a loan of $300,000.

California 30 Year Mortgage Loan Rate: $300,000

Money Store 30-Year fixed rate at 4.625% with an estimated monthly payment of $1,542
Quicken Loans 30-Year fixed rate at 4.750% with an estimated monthly payment of $1,565
AimLoan.com 30-Year fixed rate at 4.625% with an estimated monthly payment of $1,542

California 15- Year Home Loan Rate: $300,000

The Money Store 15-Year fixed rate at 3.875% with an estimated monthly payment of $2,200
Quicken Loans 15-Year fixed rate at 3.875% with an estimated monthly payment of $2,200
EverBank 15-Year fixed rate at 3.875% with an estimated monthly payment of $2,200

California Option ARM Rate: $300,000

Quicken Loans 5/1 Year ARM rate at 2.990% with an estimated monthly payment of $1,263
EverBank 5/1 Year ARM rate at 3.000% with an estimated monthly payment of $1,265
Compass 5/1 Year ARM rate at 2.500% with an estimated monthly payment of $1,185

Mortgage rates accurate as of publishing date and based on a loan amount of $300,000. Please see the financial institution about any changes and additional fees.