Mortgage interest rates have headed slightly higher at HSBC Bank (NYSE:HSBC) on Monday, April 14. Under its home loan program, the lender advertises the 30-year fixed mortgage at a rate of 4.420%, an uptick of 2 basis points since Friday. The interest rate ticked up on HSBC Bank’s 15-year conventional home loan as well, as it’s now coming out at 3.500%.
Turning focus to non-conventional loan offerings, the 30-year FHA-insured mortgage is published at a rate of 4.125%, unchanged since Friday. No adjustments were made to the 30-year VA loan either, it has a daily low at 4.125%. Moving on to adjustable rate home loans, the 7/1 ARM is quoted at a rate of 3.500%, an increase 4 of basis points compared to the previous rate quote (4.460%) from Friday. With regards to the 5-year adjustable rate mortgage, it’s available today at a rate of 3.170%. Detailed information on the lender’s current mortgage interest rates 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 mortgages at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.420%, 4.491% APR
15-Year Fixed-Rate Mortgage: 3.500%, 3.622% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.322% APR
30-Year Fixed VA Mortgage: 4.125%, 4.339% APR
5/1 Adjustable Rate Mortgage (ARM): 3.170%, 2.961% APR
7/1 Adjustable Rate Mortgage (ARM): 3.500%, 3.164% 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 released last week revealed that interest rates ticked lower on popular loan packages. The interest rate on 30-year fixed loans tumbled to 4.47% from the previous 4.54% that they carried a week earlier. As for the 15-year FRM, the mortgage rate decreased by 6 basis points, according to Bankrate’s survey. The aforementioned mortgage now stands at 3.52%. The more flexible 5/1 ARM averaged 3.34% last week, unchanged compared to the previous week’s data, the company’s mortgage survey showed.
A report from McLean, Virginia-based Freddie Mac from last week indicated that the average interest rate on the 30-year fixed mortgage headed lower to 4.34. Regarding the 15-year FRM, the average rate dropped to 3.38%, the government-backed mortgage-buyer announced.
More details on HSBC Bank’s latest home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the bank’s website.