INTEREST RATES & INCOME LOANS.
INTEREST RATES & INCOME LOANS
INCOME PROPERTY LOANS
RATES AS OF JANUARY 3, 2001
TYPE RATE LTV POINTS MARGIN ADJUST NOTES
CalFed Lending MDU 6.875% 75 1.966 NA F N/0/0 1-4 UNITS
Chase Manhattan MDU 8.000% 70 1.875 NA F N/0/0 1-4 UNITS
Downey Savings Res 7.000% 75 1.625 NA F SFR N/0/0
First Federal Bank MDU 8.207% 75 1.200 2.600 1M 5+UNITS
Network Bank USA MDU 9.500% 70 1.000 1.000 1M OVER 5 UNITS
PFF Bank & Trust Res 8.000% 70 2.000 NA F N/0/0 SFR
Provident Bank Mtg. Res 6.875% 75 2.125 NA F N/0/0 SFR
Sanwa Bank Res 7.750% 70 1.625 NA F SFR N/0/0
Union Bank MDU 7.500% 65 2.000 NA F N/0/0 1-4 UNITS
West Coast Mtg. Grp. MDU 6.980% 80 1.000 3.400 6M 5+UNITS
World Savings Bank Res 7.200% 70 2.500 NA F N/0/0 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 = Construction. 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 to lender at time of loan closing. Margin (in %) is lenders profit; margin plus index equals actual rate after first adjustment. Adjust Adjustment frequency Adjustment Frequency How often the interest rate changes or resets on an adjustable-rate mortgage. Different adjustable-rate mortgages have different adjustment frequencies. Typically, the adjustment frequency is once a year, but it can be as often as once a month or as infrequent as once every five years.Notes: The lower the rate-adjustment frequency, the lower the financial risk for the borrower.: #M = number of 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/0/0 = Non-owner occupied; APTS = Apartments; PUR = Purchase; 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. 5.70 5.75 5.85 5.90
Burbank City EFCU 6.30 6.60 6.35 6.70
Calif. Bank & Trust 5.44 5.65 5.55 5.71
Calif. Fed. Bank 5.50 5.75 5.50 5.75
Cathay Bank 5.54 5.64 5.64 5.75
Citibank 5.25 5.40 5.25 5.40
Community Com. Bk 6.38 6.70 6.38 6.70
Downey Savings 5.45 5.85 5.45 5.85
Fidelity Federal Bank 5.50 5.87 5.60 5.92
First Bk of Bev. Hills 6.50 6.60 6.50 6.60
First Fed. Bank CA 5.67 5.93 5.72 5.93
First Republic Bank 4.60 6.00 4.60 6.00
Fremont Invest. & L NA 6.50 NA 6.50
Gilmore Bank 5.60 6.00 5.60 6.00
Imperial Capital Bank 6.25 6.75 6.25 6.75
IndyMac Bank 6.50 6.40 6.75 6.70
Lockheed Fed. C.U. 6.20 6.45 6.20 6.45
Manufacturers Bank 5.81 5.92 5.81 5.92
Network Bank USA 6.27 6.38 6.27 6.38
Northern Trust Bank 5.80 6.00 5.80 6.00
Pacific Bus. Bank 5.06 5.50 5.06 5.50
Pacific Crest Bank 6.00 5.75 6.00 5.75
People's Bk of CA 6.00 5.25 6.00 5.25
PFF Bank & Trust 5.75 5.90 5.85 6.00
Quaker City Bank 6.00 6.00 6.00 6.00
Sanwa Bank 5.44 5.50 5.44 5.50
Southern Pacific Bk 6.65 6.89 6.70 6.95
The California CU 6.25 6.60 6.25 6.60
Trust Bank F.S.B. 5.50 5.75 5.60 5.85
Union Bank of CA 5.65 5.71 5.87 5.76
Universal Bank 6.06 6.25 6.06 6.25
Western Financial 4.30 6.25 4.30 6.25
World Sav. Bank 5.00 5.51 5.00 5.51
JUMBO MORTGAGE LOANS
$100,000 Fixed rate Adjustable
6 mo. 1 yr Rate/points APR Rate/points
Banco Popular N.A. 6.10 6.15 NA NA NA
Burbank City EFCU 6.35 6.70 NA NA NA
Calif. Bank & Trust 6.08 6.02 7.75/1.50 7.91 6.00/0.50
Calif. Fed. Bank 5.50 5.75 7.125/2.412 7.39 5.25/0.00
Cathay Bank 5.85 5.90 8.25/0.875 8.38 NA
Citibank 5.25 5.40 NA NA NA
Community Com. Bk 6.38 6.70 NA NA NA
Downey Savings 5.55 5.95 7.25/2.125 7.49 3.75/1.50
Fidelity Federal Bank 5.75 6.00 7.20/2.00 7.56 NA
First Bk of Bev. Hills 6.50 6.60 NA NA NA
First Fed. Bank CA 6.14 6.14 6.875/1.875 7.10 4.95/1.75
First Republic Bank 4.60 6.00 NA NA NA
Fremont Invest. & L NA 6.25 NA NA NA
Gilmore Bank 5.80 6.20 NA NA NA
Imperial Capital Bank 6.25 6.75 NA NA NA
IndyMac Bank 6.75 6.70 NA NA NA
Lockheed Fed. C.U. 6.45 6.70 NA NA NA
Manufacturers Bank 5.87 5.97 NA NA NA
Network Bank USA 6.49 6.49 NA NA NA
Northern Trust Bank 6.25 6.10 NA NA NA
Pacific Bus. Bank 5.54 6.25 NA NA NA
Pacific Crest Bank 6.00 5.75 NA NA NA
People's Bk of CA 6.00 5.25 7.50/0.75 7.59 NA
PFF Bank & Trust 5.95 6.10 7.50/2.00 7.60 3.75/0.00
Quaker City Bank 6.00 6.00 NA NA 4.95/1.00
Sanwa Bank 5.76 5.60 7.50/1.125 7.83 7.25/1.125
Southern Pacific Bk 6.75 7.00 NA NA NA
The California CU 6.41 6.76 NA NA NA
Trust Bank F.S.B. 6.25 6.25 7.625/0.75 7.79 NA
Union Bank of CA 6.00 5.95 7.50/2.00 7.73 5.25/1.00
Universal Bank 6.06 6.25 NA NA NA
Western Financial 4.30 6.25 7.75/0.125 7.81 7.375/0.00
World Sav. Bank 6.13 6.34 7.70/1.50 7.86 4.95/1.00
APR
Banco Popular N.A. NA
Burbank City EFCU NA
Calif. Bank & Trust 8.57
Calif. Fed. Bank 8.10
Cathay Bank NA
Citibank NA
Community Com. Bk NA
Downey Savings 8.16
Fidelity Federal Bank NA
First Bk of Bev. Hills NA
First Fed. Bank CA 8.39
First Republic Bank NA
Fremont Invest. & L NA
Gilmore Bank NA
Imperial Capital Bank NA
IndyMac Bank NA
Lockheed Fed. C.U. NA
Manufacturers Bank NA
Network Bank USA NA
Northern Trust Bank NA
Pacific Bus. Bank NA
Pacific Crest Bank NA
People's Bk of CA NA
PFF Bank & Trust 8.31
Quaker City Bank 7.00
Sanwa Bank 8.70
Southern Pacific Bk NA
The California CU NA
Trust Bank F.S.B. NA
Union Bank of CA 8.15
Universal Bank NA
Western Financial 7.68
World Sav. Bank 8.66
KEY RATES RATES/YIELDS AS OF JAN. 3, 2001 Prime rate (Base rate on corporate loans from U.S. banks)9.50Discount rate (Federal Reserve) 6.00 11th district cost of funds (Index used to compute adjustable mortgages -November 00) 5.607 National cost of funds (Monthly median-Sav. Assoc. Ins. Fund -October 00) 5.13 Average jumbo fixed-rate mortgage on a resold home (Southern California, Dec 28) 7.25%/1.85pts Average jumbo adjustable-rate mortgage on a resold home (Southern California, Dec 28) 6.91%/1.71pts Short-term Treasury bills (yields/H-15) 3-Month: 5.66 6-Month: 5.50 Certificates of Deposit (yields/H-15) 3-Month: 6.32 6-Month: 6.11 Corporate bonds (Average for bonds rated Aaa by Moody's) 7.15 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. Ins. 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 $500,000. 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 amortization, 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. |
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