Current mortgage rates have remained attractive at U.S. loan provider, HSBC Bank (NYSE:HSBC) on the first day of the new week. Following several drops in home purchase mortgage rates at this lender last week, the majority of loans have retained their levels on Monday, July 21.
The bank’s home loan program includes the 30-year conforming loan and it’s available today at a rate of 4.210%. The shorter-term, 15-year home purchase loan might be a more suitable option for some borrowers and this type of loan carries 3.420% interest cost as of Monday.
Shifting over to non-conventional mortgage loan offerings, the 30-year FHA-backed mortgage is published at a rate of 4.000%, unchanged compared to Friday’s rate level. The 30-year VA mortgage is holding steady as well, the interest rate is set at 4.125%, according to the updated loan information. Besides the above mentioned conventional and non-conventional loans, the lender provides other type of mortgages as well, which come with more flexibiliy in terms of interest rates. One of these loans is the 7/1 adjustable rate mortgage (ARM) and it’s published at a rate of 3.460% on Monday. The 5/1 ARM alternative doesn’t look bad either, as the interest rate on this loan is hovering at 3.310%. For additional information on HSBC Bank’s latest mortgage 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 mortgage, may find some suitable loan options at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.210%, 4.287% APR
15-Year Fixed-Rate Mortgage: 3.420%, 3.552% APR
30-Year Fixed FHA Mortgage: 4.000%, 4.181% APR
30-Year Fixed VA Mortgage: 4.125%, 4.281% APR
5/1 Adjustable Rate Mortgage (ARM): 3.310%, 3.015% APR
7/1 Adjustable Rate Mortgage (ARM): 3.460%, 3.150% 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 showed that interest rates eased slightly on 30-year and 15-year mortgage loans. The interest rate on 30-year fixed loans edged down to 4.30% from the former 4.31% that it held it held in the prior week, according to the company’s survey. As for the 15-year FRM, the mortgage rate dropped by 1 basis point and now it’s hovering at 3.40%. The more flexible 5/1 ARM remained steady at 3.33% this week, Bankrate’s mortgage survey revealed.
A report from McLean, Virginia-based Freddie Mac published last week showed that the average interest rate on the 30-year fixed mortgage drifted lower to 4.13%. Regarding the 15-year FRM, the average rate fell to 3.23%, the government-backed mortgage-buyer said.
Further information on HSBC Bank’s current home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the bank’s website.