U.S. financial institution, PNC Bank (NYSE:PNC), revised its mortgage rate sheet for April 29, 2015. Updated information on the loan originator’s mortgage rates and annual percentage rates (APRs) can be be found below. PNC Bank has been advertising excellent 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 suitable loan products at this bank.
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%, 4.006% – 4.137% APR
15-Year Fixed Mortgage: 3.125% – 3.500%, 3.427% – 3.566% APR
10-Year Fixed Mortgage: 2.875% – 3.375%, 3.310% – 3.443% 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% – 4.625%, 4.302% – 4.623% APR
20-Year Fixed Mortgage: 3.875% – 4.250%, 4.160% – 4.290% APR
15-Year Fixed Mortgage: 3.250% – 3.875%, 3.606% – 3.923% APR
10-Year Fixed Mortgage: 3.000% – 3.625%, 3.486% – 3.692% 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.
Mortgage-finance company, Freddie Mac announced last Thursday, that the interest rate on the 30-year fixed loan fell to 3.65% from the previous 3.67%. On the other hand, the interest rate on the shorter-term 15-year fixed loan drifted lower to 2.92% last week. A week earlier this type of mortgage loan averaged a rate of 2.94%, according to the firm.
Consumer financial services company, Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage remained unchanged at 3.79% during the past week. The interest rate on the shorter-term, 15-year mortgage has been holding steady at 3.03%, according to the survey. The current rate on the 5/1 adjustable rate mortgage moved higher in Bankrate’s survey, this type of loan is now standing at 3.09%.
For more 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 see the financial institution’s website.