On Wednesday, mortgage rates were flat at HSBC Bank (NYSE:HSBC), but today we are observing some changes. Overall, interest rates look mixed, as some of the home loan packages improved, while others worsened on Thursday. The 30-year conventional home loan retained its level at 4.500%, according to the bank’s latest data. On the other hand, the 15-year FRM is up for grabs at a rate of 3.560%, a 3 basis points uptick since Wednesday. Other type of home mortgages, including non-conventional loans remained frozen today. Both the 30-year fixed FHA and the 30-year VA mortgage loans are advertised at 4.125%. While the flexible ARM loan packages improved for most of the week, today we noticed some higher rates on these type of loans. The 7/1 adjustable rate mortgage is published at a rate of 3.500%, up by 8 basis points compared to yesterday’s quote (3.420%). The 5/1 ARM bears a higher interest rate as well, in the form of 3.250%. Additional information on HSBC Bank’s current mortgage interest rates and APRs can be found below.
HSBC Bank offers excellent interest rates under both its home purchase and refinance programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable mortgage deals at this financial institution.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.500%, 4.578% APR
15-Year Fixed-Rate Mortgage: 3.560%, 3.691% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.393% APR
30-Year Fixed VA Mortgage: 4.125%, 4.399% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 2.993% APR
7/1 Adjustable Rate Mortgage (ARM): 3.500%, 3.168% APR
Please, bear in mind, that the present mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
Bankrate’s (NYSE:RATE) mortgage survey from last week revealed that interest rates moved up on most loan packages, breaking a five-week long streak of declines. The interest rate on the 30-year fixed loans edged up to 4.48% from the previous 4.43% that it held a week earlier. The interest rate on the 15-year FRM rose as well, according to Bankrate’s survey. The aforementioned loan now stands at 3.53%. The more flexible 5/1 ARM averaged 3.32% in the said period, a 5 basis points rise over the former 3.27%, the company’s mortgage survey showed.
A report from McLean, Virginia-based Freddie Mac from last Thursday indicated that the average interest rate on the 30-year fixed mortgage climbed to 4.28%. Regarding the 15-year FRM, the average rate stayed put at 3.33%, the mortgage-buyer reported.
Additional information on HSBC Bank’s latest home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, is available on the lender’s website.