Mortgage rates look mixed at U.S. lender, HSBC Bank (NYSE:HSBC) on Thursday, March 13, as interest rate levels on certain home loans improved, while on others they worsened. Overall, mortgage interes rates were lowered on popular fixed home loans at this lender. The standard 30-year home mortgage is coming out at a rate of 4.410%, a decrease of 5 basis points compared to yesterday’s rate quote (4.460%). The 15-year FRM became more attractive as well, as the starting rate dipped to 3.500%. Shifting over to non-conventional home loans, both the 30-year fixed FHA-backed mortgage and the 30-year VA loan bear 4.125% in interest. Following yesterday’s improvements on ARMs, today rates on these type of loan packages ticked up. The 7/1 adjustable rate loan now has an asking rate of 3.500%, up slightly compared to Wednesday’s rate level (3.470%). The 5/1 ARM is offered at a higher interest rate as well, in the form of 3.250%. More details on HSBC Bank’s current mortgage 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 mortgage options at this financial institution.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.410%, 4.481% APR
15-Year Fixed-Rate Mortgage: 3.500%, 3.622% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.333% APR
30-Year Fixed VA Mortgage: 4.125%, 4.328% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 2.989% 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 on Thursday revealed that interest rates headed higher on popular loan packages. The interest rate on 30-year fixed loans moved up to 4.50% from the previous 4.45% that they carried a week earlier. As for the 15-year FRM, the mortgage rate climbed by 5 basis points, according to Bankrate’s survey. The aforementioned mortgage now stands at 3.51%. The more flexible 5/1 ARM averaged 3.30% this week, a 4 basis points uptick over the former 3.26%, the company’s mortgage survey revealed.
A report from McLean, Virginia-based Freddie Mac from this week indicated that the average interest rate on the 30-year fixed mortgage rose to 4.37%. Regarding the 15-year FRM, the average rate advanced to 3.38%, the mortgage-buyer announced.
Additional information 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.