Mortgage Rates Update: PNC Bank 30-Year and 20-Year Home Refinance Rates for May 7

0
83

Mortgage Rates Update: PNC Bank 30-Year and 20-Year Home Refinance Rates for May 7PNC Bank (NYSE:PNC), which is a top loan provider in the country, revised its mortgage information for Thursday, May 7. For information on the Pennsylvania-headquartered lender’s current mortgage interest rates and annual percentage rates (APRs), please check the data below. PNC Bank has been offering attractive mortgage 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 ideal loans at this financial institution.

PNC Bank Home Purchase Rates

30-Year Fixed Mortgage: 4.000% – 4.250%, 4.177% – 4.280% APR
20-Year Fixed Mortgage: 3.750% – 4.125%, 4.036% – 4.137% APR
15-Year Fixed Mortgage: 3.125% – 3.500%, 3.408% – 3.530% APR
10-Year Fixed Mortgage: 2.875% – 3.375%, 3.283% – 3.390% 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: 4.125% – 4.500%, 4.302% – 4.530% APR
20-Year Fixed Mortgage: 4.000% – 4.250%, 4.213% – 4.290% APR
15-Year Fixed Mortgage: 3.250% – 3.750%, 3.606% – 3.797% APR
10-Year Fixed Mortgage: 3.000% – 3.500%, 3.459% – 3.592% 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.

► Compare Today’s Mortgage Rates and Find The Best Loans

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.

Freddie Mac, which is based in McLean, VA, said on Thursday, that the interest rate on the 30-year fixed mortgage soared to 3.80% from the previous 3.68%. Meanwhile, the interest rate on the shorter-term 15-year fixed loan increased to 3.02% this week. Previously this type of mortgage loan was hovering at a rate of 2.94%, according to Freddie Mac.

Consumer financial services company, Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan edged up to 3.99% during this week. The interest rate on the shorter-term, 15-year mortgage ticked up at 3.17%, according to the survey. The current rate on the 5/1 ARM drifted higher in Bankrate’s latest survey, this type of mortgage is now standing at 3.19%.

For further 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 take a visit to the bank’s website.