New! Local St. Louis Mortgage Rates

Dennis Norman

Dennis Norman

By: Dennis Norman

In the past I have been doing weekly posts with updated current mortgage rates based upon national data from either Freddie Mac, Fannie Mae or the Mortgage Bankers Association.  However, just like real estate, mortgage rates are “local” to some extent and do vary in different markets. 

In an effort to help people in the St. Louis metro area get a more accurate picture of what mortgage interest rates are doing here, not to mention data that is accurate up to the minute I publish rather than delayed several days or a week as the national data is, I wanted to find a local source for timely, accurate rate information and have done just that.

Paramount Mortgage Company - St LouisBeginning today I will be publishing weekly updates on LOCAL St. Louis mortgage rates provided by Paramount Mortgage Company here in St. Louis.  If you have been visiting this blog for a while Paramount may sound familiar as I did an e-view here with John Frank, the company’s founder, a while back.

St. Louis Mortgage Rates – October 14, 2009 *

  • 30-year fixed-rate mortgage       5.125% no points
  • 15-year fixed-rate  mortgage        4.5% no points
  • 1/1 adjustable rate mortgage        5.125% no points
  • 3/1 adjustable rate mortgage       3.875% no points
  • 5/1 adjustable rate mortgage       3.875% no points

For more information or if you have questions on mortgage rates in St. Louis you may contact John Frank by phone at (314) 372-4300, email at or you can visit his company website at

*Note- The above rates are based upon a typical sale price of $187,500 with a  20% percent down payment leaving a loan amount of $150,000 to a borrower with a 720 credit score for a loan with no discount points charged.  Rates and terms will vary depending upon loan amount, home value, credit and income of borrower.


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