Mortgage rates are lower for the second straight day at HSBC Bank (NYSE:HSBC), according to the lender’s latest data. With regards to long-term home loans, the 30-year FRM is quoted at a rate of 4.390%, a 2 basis points improvement compared to Thursday’s rate quote (4.410%). The lender also reduced the opening rate on the 15-year fixed conventional loan, which is now listed at 3.480%. Moreover, HSBC Bank updated the interest rates on its non-conventional home loans. Both the 30-year fixed FHA-backed mortgage and the 30-year VA loan are holding firm at 4.125%. Rates on the lender’s ARM packages improved on Friday. The 7/1 adjustable rate mortgage is available at a rate of 3.375%, a decrease compared to the former 3.500% that it held. The 5/1 ARM looks more attractive as well, as it can be locked in at a rate of 3.125%. Below you can find additional details ont he lender’s latest home mortgage rates.
HSBC Bank offers excellent interest 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 ideal loans at this lender.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.390%, 4.462% APR
15-Year Fixed-Rate Mortgage: 3.480%, 3.603% APR
30-Year Fixed FHA Mortgage: 4.125%, 4.323% APR
30-Year Fixed VA Mortgage: 4.125%, 4.329% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 2.946% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 3.105% APR
Please, bear in mind, that the present mortgage interest 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.
Bankrate’s (NYSE:RATE) mortgage survey released on Thursday revealed that interest rates headed higher on popular loan packages. The interest rate on 30-year fixed loans moved up to 4.50% from the previous 4.45% that they carried a week earlier. As for the 15-year FRM, the mortgage rate climbed by 5 basis points, according to Bankrate’s survey. The aforementioned mortgage now stands at 3.51%. The more flexible 5/1 ARM averaged 3.30% this week, a 4 basis points uptick over the former 3.26%, the company’s mortgage survey revealed.
A report from McLean, Virginia-based Freddie Mac from this week indicated that the average interest rate on the 30-year fixed mortgage rose to 4.37%. Regarding the 15-year FRM, the average rate advanced to 3.38%, the mortgage-buyer announced.
Additional information on HSBC Bank’s latest home purchase mortgage interest rates, loan assumptions and borrowing terms and conditions, can be found on the financial institution’s website.