U.S. lender, PNC Bank (NYSE:PNC) updated its mortgage information for April 14, 2015, which is discussed below. This bank has been providing 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 suitable mortgages at this financial institution.
PNC Bank Home Purchase Rates
30-Year Fixed Mortgage: 3.625% – 4.000%, 3.817% – 4.039% APR
20-Year Fixed Mortgage: 3.500% – 3.750%, 3.724% – 3.789% APR
15-Year Fixed Mortgage: 2.875% – 3.250%, 3.136% – 3.296% APR
10-Year Fixed Mortgage: 2.750% – 3.000%, 2.996% – 3.012% 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: 3.750% – 4.125%, 3.943% – 4.164% APR
20-Year Fixed Mortgage: 3.625% – 4.000%, 3.833% – 4.024% APR
15-Year Fixed Mortgage: 3.000% – 3.500%, 3.297% – 3.490% APR
10-Year Fixed Mortgage: 2.750% – 3.125%, 3.178% – 3.213% 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.
Virginia-based housing finance company, Freddie Mac announced last week, that the average rate on the 30-year fixed loan edged down to 3.66% from the previous 3.70%. On the other hand, the average rate on the shorter-term 15-year fixed mortgage declined to 2.93% last week. A week earlier this type of mortgage loan was hovering at a rate of 2.98%, according to the firm.
Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year mortgage is holding firm at 3.82% during last week. The interest rate on the shorter-term, 15-year mortgage improved by 2 basis points to 3.04%, according to the the latest data. The current rate on the 5/1 ARM dropped in Bankrate’s survey, this type of loan is now hovering at 3.06%.
For additional 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 check the lender’s website.