Pittsburgh-headquartered financial institution, PNC Bank (NYSE:PNC) eased interest rates on select mortgage loans on Tuesday, August 5, according to our observations. Looking at current refinance rate quotes at this lender, the 30-year FRM is listed today at a rate of 4.488% – 4.590%, down compared to the previous 4.520% – 4.600% that it carried earlier. As far as the mid-term, 20-year home refinance loan is concerned, the current interest rate on this mortgage is set at 4.218% – 4.296%. Back on Friday, this type of loan was carrying a slightly higher rate in the form of 4.247% – 4.324%.
We also observed some changes regarding the lender’s 15-year and 10-year refinance loans. Currently, the 15-year fixed mortgage is offered at a rate of 3.581% – 3.772% at PNC Bank. For the sake of comparison this type of loan was listed at a rate of 3.617% – 3.625% late last week. Another home refinance loan, which looks more attractive today is the 10-year fixed conventional mortgage. At PNC Bank, the aforementioned loan is quoted at a rate of 3.435% – 3.577% on Tuesday. Additional details on today’s mortgage interest rates can be found below.
PNC Bank has been offering excellent mortgage 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 options at this lender.
PNC Bank Home Purchase Rates
30-Year Fixed Mortgage: 4.354% – 4.467%, 4.375% – 4.625% APR
20-Year Fixed Mortgage: 4.080% – 4.173%, 4.125% – 4.375% APR
15-Year Fixed Mortgage: 3.405% – 3.511%, 3.375% – 3.750% APR
10-Year Fixed Mortgage: 3.166% – 3.278%, 3.125% – 3.625% 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: 4.488% – 4.590%, 4.500% – 4.750% APR
20-Year Fixed Mortgage: 4.218% – 4.296%, 4.250% – 4.500% APR
15-Year Fixed Mortgage: 3.581% – 3.722%, 3.625% – 4.000% APR
10-Year Fixed Mortgage: 3.435% – 3.577%, 3.500% – 3.875% 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. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
As far a current national average interest rates are concerned, Freddie Mac published the results of its weekly Primary Mortgage Market Survey (PMMS) last Thursday, which revealed that the average rate on the 30-year fixed mortgage eased by 1 basis point to 4.12%. As for the 15-year FRM, the national average rate slipped to 3.23%, the Virginia-based mortgage-buyer disclosed in its weekly survey.
Further details on PNC Bank’s current mortgage interest rates, borrowing terms and conditions, as well as information on other loan options, can be found on the bank’s website.