Morgan Stanley Private Bank Mortgage Interest Rate and Cost Review

Is Morgan Stanley Private Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Morgan Stanley Private Bank to those of other lenders for a comparable set of borrowers. Here is our review of Morgan Stanley Private Bank nationally:

Review ItemMorgan Stanley Private Bank
Interest Ratesimilar to other lenders (-0.04%)
Loan Related Closing Costssimilar to other lenders (-$222)
National Rate and Closing Cost Star Rating(3.5)

On average, Morgan Stanley Private Bank’s interest rates were similar to those of other lenders (-0.04%). Its loan related closing costs were also 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 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Morgan Stanley Private Bank, check out its website at:

Morgan Stanley Private Bank’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities 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

Morgan Stanley Private Bank’s Rate Review 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. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

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%
National 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%
Average Star Rating(4)(4)

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 a lot for mortgage rates, and we always recommend shopping among several of our top mortgage 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)

* 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.