Current Mortgage Rates in Salem, Massachusetts

Monday, October 06, 2008



Current Mortgage Rates*

Loan Type
Salem Average
30-yr. fixed6.00%
15-yr. fixed5.62%
5/1 ARM6.38%
3/1 ARM6.00%
FHA Mortgage6.25%
Fixed Rate Mortgage7.12%
VA Mortgage6.25%
*Mortgage Rates Updated: 10/04/2008

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Current Mortgage Rates in Salem, Massachusetts

Salem 30-yr. fixed Mortgage Rates Salem 30-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank7.02%7.33%1.96Citibank7.00%7.14%0.25
Bank of America6.62%6.77%0.80Bank of America7.36%7.61%1.79
Wachovia6.25%6.39%0.71Wells Fargo9.29%9.36%0.27
Wells Fargo6.41%6.48%0.24Chase7.75%7.80%0.15
Chase6.32%6.40%0.08 
Salem 15-yr. fixed Mortgage Rates Salem 15-yr. fixed jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank7.04%7.93%4.64Citibank6.75%6.89%0.00
Bank of America6.21%6.48%0.93Bank of America7.15%7.53%1.53
Wachovia5.74%6.01%0.82Wells Fargo7.98%8.10%0.41
Wells Fargo6.16%6.29%0.33Chase6.50%6.59%0.00
Chase6.32%6.45%0.07 
Salem 7/1 ARM Mortgage Rates Salem 7/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.50%7.21%0.25Citibank7.00%7.46%0.00
Bank of America6.26%6.29%1.00Bank of America6.88%7.36%0.48
Wachovia5.78%5.83%0.59Wells Fargo8.44%7.47%0.30
Wells Fargo7.34%6.87%0.18Chase6.62%7.15%0.12
Chase6.85%6.41%0.04 
Salem 5/1 ARM Mortgage Rates Salem 5/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.38%7.29%0.12Citibank6.88%7.47%0.00
Bank of America6.45%6.14%0.88Bank of America8.14%6.63%1.05
Wells Fargo7.07%6.58%0.24Wells Fargo7.81%6.83%0.34
Chase6.82%6.27%0.02Chase7.78%6.66%0.00
Salem 3/1 ARM Mortgage Rates Salem 3/1 ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.62%7.51%0.00Citibank7.00%7.62%0.00
Bank of America6.01%6.15%0.93Bank of America6.88%7.60%0.08
Wachovia5.54%5.61%0.48Wells Fargo6.75%7.52%0.12
Wells Fargo6.38%7.44%0.12Chase6.75%7.41%0.00
Chase6.75%7.37%0.00 
Salem 1-yr. ARM Mortgage Rates Salem 1-yr. ARM jumbo Mortgage Rates
Base RateAPYPoints Base RateAPYPoints
Citibank6.75%7.76%0.00Citibank7.00%7.90%0.00
Bank of America7.42%6.20%1.53Wells Fargo7.25%7.74%0.12
Wells Fargo7.25%7.78%0.12Chase7.12%7.62%0.00
Chase6.12%7.53%0.12 

Banks in Salem, Massachusetts

Eastern Bank and Trust Company, 217 Essex Street, Salem Massachusetts 1970
Heritage Co-operative Bank, 71 Washington Street, Salem Massachusetts 1970
Salem Five Cents Savings Bank, 210 Essex Street, Salem Massachusetts 1970
Shawmut Merchants Bank, 253 Essex Street, Salem Massachusetts 1970

Credit Unions in Salem, Massachusetts

Greater Salem Employees, 10 Colonial Road Suite 1a, Salem MA 1970 (978) 745-9803
Salem Italian-american, P.O. Box 734, Salem MA 1970 (978) 740-0200

Mortgage Statistics for Salem, Massachusetts

  Salem Massachusetts USA
Population:
Population - The population of Salem, MA
 40,407 6,349,048 284,881,454
White Population:
White Population - The number of white people living in where you might apply for a Salem mortgage.
 34,497 5,367,254 210,951,199
Black Population:
Black Population - The number of black people living in where you might apply for a Salem mortgage.
 1,274 343,448 33,966,477
Hispanic Population:
Hispanic Population - The number of hispanic people living in where you might apply for a Salem mortgage.
 4,541 428,727 34,671,551
HouseHolds:
HouseHolds - The total number of households in Salem, MA, where you might buy a home.
 18,175 2,621,986 117,153,924
Person per Household:
Person per Household - The average number of people in a household in Salem, where you might apply for a Salem mortgage.
 2 2 2
Average House Value:
Average House Value - The average house value in Salem, MA
 $188,300 $202,794 $132,188
Income per Household:
Income per Household - The household income where you might compare Salem mortgage interest rates.
 $44,033 $52,741 $43,800

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