Interest rates ticked up on the majority of conventional home loans at U.S. lender, HSBC Bank (NYSE:HSBC) on Thurdsay, July 3. At this loan originator, the 30-year home purchase loan is quoted at a rate of 4.300%, an increase of 2 basis points compared to yesterday’s level (4.280%). On the other hand, the lender hasn’t altered the interest rate on the 15-year fixed home loan. This type of mortgage loan product is published at a rate of 3.440%.
Heading over to non-conventional mortgage loans, the 30-year fixed FHA loan is available at a rate of 4.125% on Thursday. Similarly, the 30-year VA mortgage has retained its rate level and it’s currently listed at 4.125%. Under its home loan program, HSBC Bank also has some flexible mortgage offerings, including adjustable rate mortgages (ARMs). Today, the interest rate on the 7/1 ARM edged up to 3.590% from the previous 3.500% that it carried yesterday. The 5/1 ARM loan package comes with a higher interest rate as well, it starts at a rate of 3.330%. For more information on the bank’s updated mortgage interest rates, please check the details 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 ideal mortgage offerings at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.300%, 4.359% APR
15-Year Fixed-Rate Mortgage: 3.440%, 3.546% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.268% APR
30-Year Fixed VA Mortgage: 4.125%, 4.295% APR
5/1 Adjustable Rate Mortgage (ARM): 3.330%, 3.010% APR
7/1 Adjustable Rate Mortgage (ARM): 3.590%, 3.198% 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 this week showed that interest rates are holding steady on 30-year and 15-year mortgage loans. The interest rate on 30-year fixed loans remained unchanged at 4.28%, according to the company’s survey. As for the 15-year FRM, the mortgage rate inched up by 1 basis point and now it’s coming out at 3.40%. The more flexible 5/1 ARM remained stable at 3.33% this week, Bankrate’s mortgage survey revealed.
A report from McLean, Virginia-based Freddie Mac published on Thursday showed that the average interest rate on the 30-year fixed mortgage improved to 4.12%. Regarding the 15-year FRM, the average rate stayed intact at 3.22%, the government-backed mortgage-buyer said.
Further information on HSBC Bank’s latest home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the lender’s website.