HSBC Bank (NYSE:HSBC), which is headquartered in New York, NY, updated its home purchase loan information for May 18, 2015, which is listed below. HSBC Bank provides excellent interest rates under its mortgage loan program, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some ideal mortgage solutions at this bank.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.020%, 4.094% APR
15-Year Fixed-Rate Mortgage: 3.220%, 3.348% APR
30-Year Fixed FHA Mortgage: 3.750%, 3.937% APR
30-Year Fixed VA Mortgage: 3.750%, 3.901% APR
5/1 Adjustable Rate Mortgage (ARM): 3.060%, 3.090% APR
7/1 Adjustable Rate Mortgage (ARM): 3.290%, 3.204% 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.
Freddie Mac, which is based in McLean, VA, reported last week, that the interest rate on the 30-year fixed mortgage soared to 3.85% from the former 3.80%. In addition, the interest rate on the shorter-term 15-year fixed mortgage ticked up to 3.07% last week. Previously this type of mortgage loan was hovering at a rate of 3.02%, according to Freddie Mac.
Consumer financial services company, Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year conventional loan headed higher to 4.01% last week. The interest rate on the shorter-term, 15-year mortgage rose at 3.22%, according to the survey. The current rate on the 5/1 ARM fell in the company’s latest survey, this type of loan is now coming out at 3.17%.
For additional details on the latest home purchase and refinance mortgage interest rates at HSBC Bank, as well as information on borrowing terms and conditions and loan assumptions, please check the lender’s website.