U.S. home loan provider, PNC Bank (NYSE:PNC) updated its mortgage information for February 27, 2015, which is discussed below. This bank has been offering attractive interest rates under both its home purchase and refinance loan 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 solutions at this financial institution.
PNC Bank Home Purchase Rates
30-Year Fixed Mortgage: 3.750% – 4.125%, 3.768% – 3.980% APR
20-Year Fixed Mortgage: 3.625% – 3.875%, 3.593% – 3.717% APR
15-Year Fixed Mortgage: 3.000% – 3.250%, 2.956% – 3.064% APR
10-Year Fixed Mortgage: 2.875% – 3.125%, 2.810% – 2.828% APR
The rate information provided assumes the purpose of the mortgage loan is to purchase a property, an existing single family home to be used as a primary residence with a loan amount of $200,000. The property is located in Chicago, IL. The interest rate reflects a 30 day rate lock period. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
PNC Bank Refinance Rates
30-Year Fixed Mortgage: 4.000% – 4.250%, 3.997% – 4.113% APR
20-Year Fixed Mortgage: 3.750% – 4.000%, 3.745% – 3.839% APR
15-Year Fixed Mortgage: 3.125% – 3.500%, 3.132% – 3.258% APR
10-Year Fixed Mortgage: 3.000% – 3.375%, 2.984% – 3.024% APR
The rate information provided assumes the purpose of the mortgage loan is to refinance an existing mortgage with a loan amount of $200,000. The property is located in Chicago, IL. The interest rate reflects a 45 day rate lock period. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
Please, note that the current mortgage interest rates above are only estimates. Mortgage 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.
Freddie Mac, which is based in McLean, VA, reported on Thursday, that the average rate on the 30-year fixed loan ticked up to 3.8% from the previous 3.76%. In addition, the interest rate on the shorter-term 15-year fixed loan edged up to 3.07% this week. A week earlier this type of mortgage loan averaged a rate of 3.05%, according to the organization.
For more details on the latest home purchase and refinance mortgage interest rates at PNC Bank, as well as information on borrowing terms and conditions and loan assumptions, please visit the financial institution’s website.