Following improvements in mortgage rates at HSBC Bank (NYSE:HSBC) during the week, the lender further lowered rates on select loan packages on Friday, July 18. Currently, the 30-year fixed home loan has an asking rate of 4.210%, down by 7 basis points compared to the previous 4.280% that it held earlier this week. The 15-year fixed mortgage also fell, albeit slightly, the interest rate on this loan now hovers at 3.420%.
With regards to current non-conventional home loan options, the FHA-backed 30-year fixed mortgage is available at a rate of 4.000% on Friday, a decrease of 0.125%. On the other hand the 30-year VA mortgage has remained unchanged at 4.125%, according to our observations. Borrowers, who prefer flexible loan offerings, will see both the 7/1 and 5/1 adjustable rate loans being offered at lower interest rates today at this lender. The former home purchase loan now carries 3.420% in interest, whilst the latter one has a lending rate of 3.250%. Below you can find more details on HSBC Bank’s current mortgage rates and APRs.
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 products at this financial institution.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.210%, 4.284% APR
15-Year Fixed-Rate Mortgage: 3.420%, 3.548% APR
30-Year Fixed FHA Mortgage: 4.000%, 4.178% APR
30-Year Fixed VA Mortgage: 4.125%, 4.278% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 2.992% APR
7/1 Adjustable Rate Mortgage (ARM): 3.420%, 3.129% 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 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 this 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.
Additional information on HSBC Bank’s current home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the lender’s website.