U.S. lender, PNC Bank (NYSE:PNC), updated its mortgage rate sheet for Wednesday, May 27. The latest information on the lender’s mortgage rates and annual percentage rates (APRs) can be be found below. PNC Bank has been offering 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 ideal loan packages at this lender.
PNC Bank Home Purchase Rates
30-Year Fixed Mortgage: 3.875% – 4.250%, 4.082% – 4.249% APR
20-Year Fixed Mortgage: 3.625% – 4.000%, 3.909% – 4.011% APR
15-Year Fixed Mortgage: 3.000% – 3.375%, 3.318% – 3.440% APR
10-Year Fixed Mortgage: 2.750% – 3.250%, 3.209% – 3.291% 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: 4.000% – 4.375%, 4.207% – 4.394% APR
20-Year Fixed Mortgage: 3.750% – 4.125%, 4.033% – 4.149% APR
15-Year Fixed Mortgage: 3.250% – 3.625%, 3.532% – 3.653% APR
10-Year Fixed Mortgage: 2.875% – 3.500%, 3.386% – 3.486% 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 giant, Freddie Mac reported last Thursday, that the interest rate on the 30-year fixed loan decreased to 3.84% from the former 3.85%. In addition, the interest rate on the shorter-term 15-year fixed mortgage drifted lower to 3.05% during the past week. A week earlier this type of mortgage loan was hovering at a rate of 3.07%, according to Freddie Mac.
A different company, Bankrate also published its weekly mortgage survey, which showed that the interest rate on the 30-year conventional loan increased to 4.03% last week. The interest rate on the shorter-term, 15-year mortgage ticked up at 3.23%, according to the survey. The interest rate on the 5/1 ARM shot up in Bankrate’s latest survey, this type of loan 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 head over to the financial institution’s website.