Mortgage interest rated spiked at HSBC Bank (NYSE:HSBC) on Monday, March 31, according to the latest data from the lender. The 30-year home purchase loan is now offered at a rate of 4.480%, an increase of 2 basis points compared to Friday’s rate quote (4.460%). We also spotted some changes regarding the lender’s 15-year fixed home loan. This type of conventional loan now carries a rate of 3.625%. Previously, this home purchase loan was advertised at a rate of 3.600%.
Moving on to non-conventional mortgage loans, the 30-year FHA loan is up for grabs at an interest cost equivalent to 4.250%, climbing from the former 4.125%. Another federally backed mortgage, the 30-year VA loan has seen an uptick as well, as it’s now coming out at a rate of 4.250%. Other than the above mentioned fixed loans, borrowers can also find loan packages which come with more flexible interest rates. One of them is the 7-year adjustable rate mortgage, which is published at a rate of 3.625% on Monday. Others, who opt for the 5/1 ARM loan, can expect to pay 3.440% interest cost. More information on the lender’s current home loan rates, as well as details on APRs, please check the data 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 mortgage, may find some ideal loan packages at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.480%, 4.569% APR
15-Year Fixed-Rate Mortgage: 3.625%, 3.773% APR
30-Year Fixed FHA Mortgage: 4.250%, 4.423% APR
30-Year Fixed VA Mortgage: 4.250%, 4.407% APR
5/1 Adjustable Rate Mortgage (ARM): 3.440%, 3.068% APR
7/1 Adjustable Rate Mortgage (ARM): 3.625%, 3.235% 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 jumped higher on popular loan packages. The interest rate on 30-year fixed loans soared to 4.51% from the previous 4.46% that they carried a week earlier. As for the 15-year FRM, the mortgage rate ticked up by 8 basis points, according to Bankrate’s survey. The aforementioned mortgage now stands at 3.56%. The more flexible 5/1 ARM averaged 3.36% last week, a 10 basis points increase over the former 3.26%, 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 climbed to 4.40. Regarding the 15-year FRM, the average rate edged up to 3.42%, the government-backed mortgage-buyer announced.
Further details on HSBC Bank’s latest home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the financial institution’s website.