Morgan Stanley Private Bank Mortgage Interest Rate and Cost Review

Is Morgan Stanley Private Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Morgan Stanley Private Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.04%)
Loan Related Closing Costssimilar to average (-$222)
National Rate and Closing Cost Rating(3.5)
Websitehttps://www.morganstanley.com/what-we-do/wealth-management/home-financing

On average, Morgan Stanley Private Bank’s interest rates were similar to those of other lenders (-0.04%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$222. Overall, combining interest rates and closing costs we estimate that Morgan Stanley Private Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Morgan Stanley Private Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Morgan Stanley Private Bank was most active in:

  1. Los Angeles, CA
  2. San Francisco, CA
  3. New York, NY
  4. Chicago, IL
  5. Seattle, WA

You can click through to check out Morgan Stanley Private Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Morgan Stanley Private Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Morgan Stanley Private Bank originated Conforming and Jumbo mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingJumbo
Interest Rate Difference+0.00%-0.02%
Loan Related Closing Cost Difference-$271-$108
Cost Adjusted Rate Difference-0.01%-0.02%
Star Rating(3.5)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.05%-0.11%
Loan Related Closing Cost Difference-$423-$22
Cost Adjusted Rate Difference-0.07%-0.11%
Star Rating(4.0)(4.0)

As a summary, Morgan Stanley Private Bank is similar to other lenders for Conforming and Jumbo purchase mortgages. For refinancing, Morgan Stanley Private Bank is cheap for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Morgan Stanley Private Bank:

Registered name: Morgan Stanley Private Bank
Registered city and state: Purchase, NY, 10577
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: MORGAN STANLEY

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Morgan Stanley Private Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.