INTEREST RATES & INCOME LOANS.
INTEREST RATES & INCOME LOANS
INCOME PROPERTY LOANS
RATES AS OF JULY 25, 2001
TYPE RATE LTV POINTS MARGIN ADJUST
Action Lending Res 7.500% 90 1.125 NA F
CalFed Lending MDU 7.125% 75 1.755 NA F
Chase Manhattan MDU 7.500% 70 2.000 NA F
Downey Savings Res 7.000% 75 1.500 NA F
First Federal Bank MDU 7.345% 75 2.200 2.600 1M
Hawthorne Savings, FSB MDU 8.000% 75 1.000 2.500 6M
PFF Bank & Trust Res 7.500% 70 2.000 NA F
Provident Bank Mtg. Res 6.999% 75 1.875 NA F
Union Bank MDU 7.250% 65 2.000 NA F
United California Bank Res 7.625% 70 1.625 NA F
World Savings Bank Res 7.130% 70 2.500 NA F
NOTES
Action Lending N/O/O SFR
CalFed Lending N/O/O 1-4 UNITS
Chase Manhattan N/O/O 1-4 UNITS
Downey Savings SFR N/O/O
First Federal Bank 5+UNITS
Hawthorne Savings,FSB 37+ UNITS
PFF Bank & Trust N/O/O SFR
Provident Bank Mtg. N/O/O SFR
Union Bank N/O/O 1-4 UNITS
United California Bank SFR N/O/O
World Savings Bank N/O/O SFR
The above rates reflect lender requirements such as soundness of
investment, underwriter guidelines and other considerations. In general,
rates are for "A quality" - building, location, and credit. Verify rate
and terms prior to applying for a loan. This information is presented
for comparison only and should not be construed as an endorsement of
any of the above organizations or products.
GUIDE TO ABBREVIATIONS
Type Com = Commercial; MDU = Multi.Dwelling Units; Ind = Industrial;
Res = Residential; Const = Constructon. Rate (Interest rate) Start rate
for adjustable mortgages or note rate for fixed rate loans. A.P.R.s will
be higher. LTV Loan to value ratio (in %) 100 minus LTV equals % down
payment needed.
Points Percent of loan balance paid tolender at time of loan closing.
Margin (in %) is lenders profit; marginplus index equals actual rate
first adjustment.
Adjust Adjustment frequency; #M = numberof months; #Y = number of years;
F = Fixed rate loan with no adjustment. (Note that all 1-month
adjustable loans have possible negative amortization)
Comments SFR = Single family residence; N/O/O = Non-owner occupied;
APTS = Apartments; PUR = purchaser; PUD = Planned unit development;
PRI = Prime rate; CONV TO PERM = Converted to permanent rate.
INTEREST RATE SURVEY
CERTIFICATE OF
DEPOSIT YIELDS
$10,000 $50,000
6 mo. 1 yr 6 mo. 1 yr
Banco Popular N.A. 3.60 3.75 3.70 3.85
Calif. Bank & Trust 3.46 3.67 3.51 3.67
Calif. Fed. Bank 4.15 4.30 4.15 4.30
Cathay Bank 3.35 3.56 3.35 3.56
Citibank 3.15 3.25 3.15 3.25
Community Com. Bk 4.13 4.33 4.13 4.33
Downey Savings 3.75 4.10 3.75 4.10
Fidelity Federal Bank 3.35 3.51 3.51 3.82
First Bk of Bev. Hills 4.00 4.10 4.20 4.30
First Fed. Bank CA 3.96 4.16 4.06 4.22
First Fidelity Invest. & L 4.00 4.25 4.00 4.25
First Republic Bank 3.75 4.00 3.75 4.00
Fremont Invest. & L 4.40 4.10 4.40 4.10
Hawthome Savings, F.S.B. 3.82 4.19 3.82 4.19
Imperial Capital Bank 4.15 4.30 4.15 4.30
IndyMac Bank 4.35 4.55 4.45 4.60
Manufacturers Bank 3.20 3.25 3.20 3.25
Northern Trust Bank 3.45 3.65 3.45 3.65
Pacific Bus. Bank 3.02 3.20 3.02 3.20
Pacific Crest Bank 3.75 4.15 4.25 4.35
People's Bk of CA 4.00 4.00 4.00 4.00
PFF Bank & Trust 3.70 3.90 3.70 3.90
Provident Bank 3.25 3.90 3.30 3.90
Quaker City Bank 3.75 4.15 3.75 4.15
Southern Pacific Bk 4.29 4.55 4.35 4.60
The California CU 4.15 4.25 4.15 4.25
Trust Bank 3.50 3.60 3.60 3.75
Union Bank of CA 3.51 3.72 3.51 3.72
Universal Bank 3.85 4.25 4.25 4.25
Washington Mutual 3.51 3.70 3.51 3.70
Wells Fargo Bank 3.10 3.30 3.10 3.30
Western Financial 3.50 4.25 3.50 4.25
World Sav. Bank 4.14 4.25 4.14 4.25
JUMBO
MORTGAGE LOANS
$100,000 Fixed Rate
6 mo. 1 yr Rate/points APR
Banco Popular N.A. 3.85 4.00 NA NA
Calif. Bank & Trust 3.56 3.67 7.25/1.50 7.41
Calif. Fed. Bank 4.15 4.30 6.875/2.419 7.14
Cathay Bank 3.45 3.66 7.625/0.50 7.70
Citibank 3.15 3.25 NA NA
Community Corn. Bk 4.13 4.33 NA NA
Downey Savings 3.85 4.20 6.875/2.125 7.11
Fidelity Federal Bank 3.60 4.00 7.20/1.00 7.37
First Bk of Bev. Hills 4.20 4.30 NA NA
First Fed. Bank CA 4.11 4.32 7.00/2.00 7.24
First Fidelity Invest & L 4.00 4.25 NA NA
First Republic Bank 3.75 4.00 NA NA
Fremont Invest & L 4.15 3.85 NA NA
Hawthome Savings, F.S.B. 3.82 4.19 NA NA
lmperial Capital Bank 4.15 4.30 NA NA
IndyMac Bank 4.45 4.60 NA NA
Manufacturers Bank 3.25 3.30 NA NA
Northern Trust Bank 3.55 3.75 NA NA
Pacific Bus. Bank 3.21 3.25 NA NA
Pacific Crest Bank 4.50 4.50 NA NA
People's Bk of CA 4.00 4.00 7.125/1.00 7.24
PFF Bank & Trust 3.80 3.95 7.50/2.00 7.67
Provident Bank 3.30 3.90 7.00/2.25 7.25
Ouaker City Bank 3.75 4.15 NA NA
Southern Pacific Bk 4.40 4.65 NA NA
The California CU 4.31 4.41 NA NA
Trust Bank 3.65 3.80 7.375/0.50 7.50
Union Bank of CA 3.51 3.66 7.00/2.00 7.22
Universal Bank 4.25 4.35 NA NA
Washington Mutual 3.51 3.70 7.125/1.00 7.25
Wells Fargo Bank 3.20 3.40 NA NA
Western Financial 3.50 4.25 7.75/0.125 7.81
World Sav. Bank 3.87 4.13 7.55/1.50 7.72
Adjustable
Rate/points APR
Banco Popular N.A. NA NA
Calif. Bank & Trust NA NA
Calif. Fed. Bank 5.25/0.325 7.37
Cathay Bank NA NA
Citibank NA NA
Community Corn. Bk NA NA
Downey Savings 3.50/1.50 7.40
Fidelity Federal Bank NA NA
First Bk of Bev. Hills NA NA
First Fed. Bank CA 4.95/1.75 7.50
First Fidelity Invest & L NA NA
First Republic Bank NA NA
Fremont Invest & L NA NA
Hawthome Savings, F.S.B. 2.95/0.00 7.67
lmperial Capital Bank NA NA
IndyMac Bank NA NA
Manufacturers Bank NA NA
Northern Trust Bank NA NA
Pacific Bus. Bank NA NA
Pacific Crest Bank NA NA
People's Bk of CA NA NA
PFF Bank & Trust 3.75/0.00 7.57
Provident Bank 3.95/1.00 7.55
Ouaker City Bank 3.95/1.00 7.85
Southern Pacific Bk NA NA
The California CU NA NA
Trust Bank NA NA
Union Bank of CA 5.00/1.00 6.46
Universal Bank NA NA
Washington Mutual 3.95/1.00 7.56
Wells Fargo Bank NA NA
Western Financial 7.50/0.00 7.18
World Sav. Bank 3.95/1.00 7.47
KEY RATES RATES/YIELDS AS OF JULY 25, 2001
Prime rate (Base rate on corporate loans
from U.S. banks)6.75 Discount rate (Fed-
eral Reserve) 3.25
11th district cost of funds (Index used
to compute adjustable mortgages-May 01) 4.745
National cost of funds (monthly median-
Sav. Assoc. Ins. Fund -May 01) 4.90
Average jumbo fixed-rate mortgage on a
resold home (Southern California, July
19) 7.03%/1.79pts
Average jumbo adjustable-rate mortage
on a resold home (Southern California,
July 19) 6.21%/1.23pts
Short-term Treasury bills (yields/H-15) 3-Month: 3.49 6-Month: 3.45
Certificates of Deposit (yields/H-15) 3-Month: 3.65 6-Month: 3.67
Corporate bonds (Average for bonds rated
Aa by Moody's) 7.09
Annual percentage yields (APY) for CDs are shown except when only the
rate is available. +Some Thrift & Loans offer "Investment Certificates"
which are callable with a 30-day notice and otherwise comparable to CDs
and are insured by FDIC. Some rates and APYs reflect the most recent
quote. All deposit APYs quoted are insured (FDIC/Savings Assoc. Inc.
Fund). The institutions listed above, the Los Angeles Business Journal
and Mortgage News Co. are not responsible for errors, omissions or rate
changes. The rates/yields are shown for comparison only and specific
yields/rates should be verified prior to making an investment decision.
This chart is not an endorsement for institutions or products shown
above.
Rates for both fixed and adjustable mortgages are for 30-year loans of
at least $50,000. The rates for adjustable mortgages are a low
introductory rate for the first adjustment period. ARM borrowers are
advised to query lenders about the rate index used, adjustment
frequency, negative amoritization, payment caps, lender's margin and
conversion to a fixed rate. All loans have additional fees. All lenders
provide loans with different rates and terms for different loan amounts.
COPYRIGHT 2001 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion