Interest rates on 30-year and 15-year mortgages have leveled off at HSBC (NYSE: HSBC) on Friday, November 22. While yesterday, we have seen slight upticks in mortgage interest rates, today it seems rates are heading in the opposite direction. The asking rate for the standard 30-year fixed home loan ticked down to 4.450% at this lender. In case of the shorter, 15-year fixed home purchase loan, the current rate hovers at 3.480%, down from yesterday’s quoted rate (3.500%).
Interest rates on government loans haven’t changed, as both the 30-year fixed FHA and the 30-year fixed VA mortgages come with 4.125% in interest, just like a day earlier. With regards to adjustable rate mortgages, the starting rate on the 7/1 ARM has remained unaltered at 3.540%, while the 5/1 version of this loan has improved to 3.190% on Friday. The updated rate information for today can be seen 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 ideal options at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.450%, 4.529% APR
15-Year Fixed-Rate Mortgage: 3.480%, 3.614% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.352% APR
30-Year Fixed VA Mortgage: 4.125%, 4.347% APR
5/1 Adjustable Rate Mortgage (ARM): 3.190%, 3.056% APR
7/1 Adjustable Rate Mortgage (ARM): 3.540%, 3.256% 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.
According to Bankrate’s (NYSE:RATE) mortgage survey from Thursday, the 30-year fixed loan drifted lower to 4.39%. The aforementioned loan was carrying 4.48% a week before. The interest rate on the 15-year FRM declined as well, and it currently stands at 3.42%.The more flexible 5/1 ARM averaged 3.28% this week, tumbling from the previous 3.33% that it carried a week earlier, according to Bankrate.
Another report from McLean, Virginia-based Freddie Mac said that the average interest rate on the 30-year fixed loan improved to 4.22% at the current week. Regarding the 15-year FRM, the average rate hovers at 3.27%, the mortgage-buyer reported.
Additional information on HSBC Bank’s latest mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the lender’s website.
In other news, HSBC stocks tumbled 0.53% and closed at a price of $56.03 per share in Friday’s trading. At the beginning of the trading session the stock opened at $55.99. HSBC shares traded in the range of $55.72 and $56.04 before closing at $56.03. The stock has an 52-week low at $49.23 and an 52-week high at $58.71. The total market capitalization of the stock is $210.03 billion. During today’s trading session the average trading volume was 1.08 million shares.