Current Mortgage Rates in Salem, Virginia
Saturday, October 11, 2008
Current Mortgage Rates*
Loan Type Salem Average |
|
| 30-yr. fixed | 6.00% |
| 15-yr. fixed | 5.50% |
| 5/1 ARM | 6.12% |
| 3/1 ARM | 5.88% |
| FHA Mortgage | 6.00% |
| Fixed Rate Mortgage | 6.88% |
| VA Mortgage | 6.00% |
*Mortgage Rates Updated: 10/07/2008
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Current Mortgage Rates in Salem, Virginia
| Salem 30-yr. fixed Mortgage Rates | Salem 30-yr. fixed jumbo Mortgage Rates | ||||||
|---|---|---|---|---|---|---|---|
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 7.40% | 7.86% | 3.33 | Bank of America | 7.36% | 7.63% | 1.91 |
| Bank of America | 6.60% | 6.75% | 0.80 | Wachovia | 7.75% | 7.77% | 0.06 |
| Wachovia | 6.29% | 6.41% | 0.62 | Wells Fargo | 9.43% | 9.49% | 0.27 |
| Wells Fargo | 6.39% | 6.47% | 0.24 | Chase | 7.80% | 7.84% | 0.14 |
| Chase | 6.29% | 6.37% | 0.07 | ||||
| Fifth Third Bank | 6.40% | 6.47% | 0.36 | ||||
| Salem 15-yr. fixed Mortgage Rates | Salem 15-yr. fixed jumbo Mortgage Rates | ||||||
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 7.27% | 8.39% | 6.01 | Bank of America | 7.23% | 7.63% | 1.62 |
| Bank of America | 6.23% | 6.50% | 0.95 | Wachovia | 7.49% | 7.53% | 0.07 |
| Wachovia | 5.81% | 6.04% | 0.68 | Wells Fargo | 7.99% | 8.11% | 0.41 |
| Wells Fargo | 6.16% | 6.29% | 0.33 | Chase | 6.50% | 6.59% | 0.00 |
| Chase | 6.31% | 6.44% | 0.07 | ||||
| Fifth Third Bank | 5.86% | 5.98% | 0.38 | ||||
| Salem 7/1 ARM Mortgage Rates | Salem 7/1 ARM jumbo Mortgage Rates | ||||||
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 6.50% | 7.21% | 0.25 | Citibank | 7.00% | 7.46% | 0.00 |
| Bank of America | 6.46% | 6.40% | 0.98 | Bank of America | 6.88% | 7.36% | 0.48 |
| Wachovia | 5.97% | 5.92% | 0.46 | Wachovia | 7.37% | 6.78% | 0.06 |
| Wells Fargo | 7.32% | 6.86% | 0.18 | Wells Fargo | 8.45% | 7.48% | 0.29 |
| Chase | 6.84% | 6.42% | 0.04 | Chase | 7.62% | 7.39% | 0.31 |
| Salem 5/1 ARM Mortgage Rates | Salem 5/1 ARM jumbo Mortgage Rates | ||||||
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 6.38% | 7.29% | 0.12 | Citibank | 6.88% | 7.47% | 0.00 |
| Bank of America | 6.43% | 6.14% | 0.88 | Bank of America | 8.14% | 6.63% | 1.05 |
| Wachovia | 6.46% | 6.11% | 0.05 | Wachovia | 7.47% | 7.32% | 0.07 |
| Wells Fargo | 7.06% | 6.59% | 0.23 | Wells Fargo | 7.81% | 6.84% | 0.32 |
| Chase | 6.79% | 6.27% | 0.03 | Chase | 7.76% | 6.66% | 0.00 |
| Fifth Third Bank | 6.20% | 5.99% | 0.28 | ||||
| Salem 3/1 ARM Mortgage Rates | Salem 3/1 ARM jumbo Mortgage Rates | ||||||
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 6.62% | 7.51% | 0.00 | Citibank | 7.00% | 7.62% | 0.00 |
| Bank of America | 6.10% | 6.19% | 0.93 | Bank of America | 6.88% | 7.60% | 0.08 |
| Wachovia | 5.75% | 5.72% | 0.37 | Wachovia | 7.00% | 6.48% | 0.06 |
| Wells Fargo | 6.38% | 7.44% | 0.12 | Wells Fargo | 6.75% | 7.52% | 0.12 |
| Chase | 6.75% | 7.37% | 0.00 | Chase | 6.75% | 7.41% | 0.00 |
| Fifth Third Bank | 5.78% | 5.82% | 0.25 | ||||
| Salem 1-yr. ARM Mortgage Rates | Salem 1-yr. ARM jumbo Mortgage Rates | ||||||
| Base Rate | APY | Points | Base Rate | APY | Points | ||
| Citibank | 6.75% | 7.76% | 0.00 | Citibank | 7.00% | 7.90% | 0.00 |
| Bank of America | 7.42% | 6.20% | 1.53 | Wachovia | 6.90% | 6.41% | 0.07 |
| Wachovia | 6.23% | 5.97% | 0.07 | Wells Fargo | 7.25% | 7.74% | 0.12 |
| Wells Fargo | 7.25% | 7.78% | 0.12 | Chase | 7.12% | 7.62% | 0.00 |
| Chase | 6.12% | 7.53% | 0.12 | ||||
Banks in Salem, Virginia
Fnb Salem Bank and Trust, 220 East Main Street, Salem Virginia 24153The Bank of Virginia of The Southwest, 100 East Main Street, Salem Virginia 24153
The Farmers National Bank of Salem, 223 East Main Street, Salem Virginia 24153
Credit Unions in Salem, Virginia
Kemba Roanoke, 2812 W. Main St, Salem VA 24153 (540) 387-5267Roanoke County Schools, P. O. Box 1079, Salem VA 24153 (540) 389-0438
Salem Community, 1340 Roanoke Blvd, Salem VA 24153 (540) 387-3211
Mortgage Statistics for Salem, Virginia
| Salem | Virginia | USA | |
|---|---|---|---|
| Population: Population - The population of Salem, VA  |
35,592 | 7,077,776 | 284,881,454 |
| White Population: White Population - The number of white people living in where you might apply for a Salem mortgage. |
33,260 | 5,119,435 | 210,951,199 |
| Black Population: Black Population - The number of black people living in where you might apply for a Salem mortgage. |
1,643 | 1,390,241 | 33,966,477 |
| Hispanic Population: Hispanic Population - The number of hispanic people living in where you might apply for a Salem mortgage. |
265 | 329,530 | 34,671,551 |
| HouseHolds: HouseHolds - The total number of households in Salem, VA, where you might buy a home. |
14,712 | 2,903,809 | 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, VA |
$100,800 | $129,931 | $132,188 |
| Income per Household: Income per Household - The household income where you might compare Salem mortgage interest rates. |
$40,477 | $49,314 | $43,800 |