During this week several lenders increased mortgage interest rates around mid-week when the second quarter’s GDP data was reported. The list of these lenders, which increased mortgage rates, included PNC Bank (NYSE:PNC) as well, and according to our observations, the bank made further adjustments to select loans recently.
On Friday, the 30-year fixed mortgage loan, which can be used for home refinancing purposes, is now offered at a rate of 4.520% – 4.600% at this lender. Compared to rate levels from earlier this week, the current interest rate is slightly higher. The interest rate on the 20-year FRM edged up as well, it’s now coming out at 4.247% – 4.324%, according to the latest rate quotes. Borrowers, who prefer refinancing over shorter-terms, may want to consider PNC Bank’s 15-year fixed refinance loan, which carries 3.617% – 3.758% in interest on Friday. As far as the short-term, 10-year conventional loan is concerned, it has a lending rate of 3.488% – 3.625% at this financial institution. More information on PNC Bank’s current mortgage rates and details on the corresponding APRs 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 mortgage, may find some suitable loan packages at this bank.
PNC Bank Home Purchase Rates
30-Year Fixed Mortgage: 4.375% – 4.488%, 4.375% – 4.625% APR
20-Year Fixed Mortgage: 4.109% – 4.202%, 4.125% – 4.375% APR
15-Year Fixed Mortgage: 3.458% – 3.546%, 3.500% – 3.750% APR
10-Year Fixed Mortgage: 3.340% – 3.330%, 3.375% – 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: 4.520% – 4.600%, 4.500% – 4.750% APR
20-Year Fixed Mortgage: 4.247% – 4.324%, 4.250% – 4.500% APR
15-Year Fixed Mortgage: 3.617% – 3.758%, 3.625% – 4.000% APR
10-Year Fixed Mortgage: 3.488% – 3.624%, 3.500% – 4.000% 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) on 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.
More details on PNC Bank’s current mortgage interest rates, borrowing terms and conditions, as well as information on other loan options, are available on the lender’s website.