New York, NY-based lender, HSBC Bank (NYSE:HSBC) revised its mortgage loan information for Monday, May 11. Details on HSBC Bank’s current mortgage interest rates and APRs are listed below. HSBC Bank offers attractive interest rates under its mortgage loan program, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable loan solutions at this bank.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.0400%, 4.108% APR
15-Year Fixed-Rate Mortgage: 3.250%, 3.369% APR
30-Year Fixed FHA Mortgage: 3.875%, 4.025% APR
30-Year Fixed VA Mortgage: 3.750%, 3.915% APR
5/1 Adjustable Rate Mortgage (ARM): 3.080%, 3.093% APR
7/1 Adjustable Rate Mortgage (ARM): 3.290%, 3.199% 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.
Freddie Mac, which is based in McLean, VA, reported last Thursday, that the interest rate on the 30-year fixed loan surged to 3.80% from the former 3.68%. In addition, the interest rate on the shorter-term 15-year fixed mortgage increased to 3.02% during the past week. Previously this type of mortgage loan averaged a rate of 2.94%, according to Freddie Mac.
Bankrate also released its weekly mortgage survey, which showed that the interest rate on the 30-year conventional loan headed higher to 3.99% during the past week. The interest rate on the shorter-term, 15-year mortgage surged at 3.17%, according to the survey. The interest rate on the 5/1 ARM moved higher in the company’s latest survey, this type of loan is now standing at 3.19%.
For further details on the latest home purchase and refinance mortgage interest rates at HSBC Bank, as well as information on borrowing terms and conditions and loan assumptions, please visit the lender’s website.