At U.S. lender HSBC Bank (NYSE:HSBC) mortgage have been on the rise for the second straight day, according to our observations. On Wednesday, the standard 30-year mortgage loan, for home purchase purpose, is listed at a rate of 4.280%. This is an increase of 5 basis points compared to the previous rate level (4.230%) from Tuesday. The 15-year fixed home mortgage looks slightly less appealing as well, with the interest rate now coming out at 3.440%, up since yesterday when it was available at 3.400%.
Switching to non-conventional mortgage loans, the 30-year FHA-backed loan package is quoted at a rate of 4.125% today, climbing from the former 4.000% that it carried a day earlier. The same can be said about the 30-year VA home loan, as it’s now offered at a steeper rate (4.125%). Individuals, who consider to opt for adjustable rate mortgages (ARM), will find several options at this lender. For one, the 7/1 ARM is on the books at a rate of 3.500%, advancing from the previous 3.460% that it held on Tuesday. The 5/1 ARM loan has a slightly higher interest rate as well, it’s now advertised at 3.250%. More details on the above mentioned home loans 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 mortgage, may find some suitable loans at this financial institution.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.280%, 4.338% APR
15-Year Fixed-Rate Mortgage: 3.440%, 3.545% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.256% APR
30-Year Fixed VA Mortgage: 4.125%, 4.284% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 2.981% APR
7/1 Adjustable Rate Mortgage (ARM): 3.500%, 3.155% 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 on 30-year and 15-year mortgage loans. The interest rate on 30-year fixed loans drifted lower to 4.28% from the previous 4.33% that they carried a week earlier. As for the 15-year FRM, the mortgage rate plummeted by 5 basis points, according to Bankrate’s survey. The aforementioned mortgage is now coming out at 3.39%. The more flexible 5/1 ARM dipped to 3.33% last week, the company’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 dropped to 4.14%. Regarding the 15-year FRM, the average rate edged down o 3.22%, the government-backed mortgage-buyer said.
More 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.