Mortgage rates moved higher for many lenders this week, according to a survey by Yahoo Finance. The survey ranks lenders by annual percentage rate, which includes lender fees.
Five of the top ten home loan providers are still offering rates just below 6%. Navy Federal Credit Union leads the list with an APR of 5.614%. Chase Home Loans follows at 5.718%, and Citi Mortgage is third at 5.731%.
PenFed Credit Union and Better round out the top five with APRs of 5.916% and 5.971%, respectively. The list continues with Truist at 6.061%, Rate at 6.146%, U.S. Bank at 6.159%, Fifth Third Bank at 6.257%, and Wells Fargo at 6.278%.
Navy Federal has been the leader in the survey for four consecutive weeks. Chase Home Loans is challenging as the runner-up. Of the 16 lenders surveyed on January 20, PNC, Citizens Bank, Bank of America, Flagstar Bank, Third Federal, and Rocket Mortgage did not make the top ten based on annual percentage rates.
An APR difference of 1.279 percentage points separates the top lender, Navy Federal, from Rocket Mortgage, which ranked at the bottom of the list.
The sample mortgage rates are based on generic data found on lender websites. They assume varying credit scores, down payments, and other qualifications. Location also affects mortgage rates.
For the survey, if a lender required additional borrower information to provide a sample rate, a median home value and credit score were supplied, with a 20% down payment based on a home in the Midwest.