Major U.S. financial institution, HSBC Bank (NYSE:HSBC) disclosed the updated mortgage information for its conventional and non-conventional loans on March 6, 2015. Current details on 30-year and 15-year home mortgage loans, discount points and annual percentage rates (APRs) are listed below. This lender provides excellent mortgage rates under its mortgage loan program, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable loan solutions at this bank.
HSBC Bank Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.960%, 4.022% APR
15-Year Fixed-Rate Mortgage: 3.280%, 3.391% APR
30-Year Fixed FHA Mortgage: 3.875%, 4.041% APR
30-Year Fixed VA Mortgage: 3.875%, 4.025% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 3.148% APR
7/1 Adjustable Rate Mortgage (ARM): 3.500%, 3.293% 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.
Government-sponsored housing firm, Freddie Mac said this week, that the average rate on the 30-year fixed mortgage ticked down to 3.75% from the previous 3.8%. In addition, the interest rate on the shorter-term 15-year fixed mortgage fell to 3.03% this week. A week earlier this type of mortgage loan was hovering at a rate of 3.07%, according to the housing giant.
A different company, Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage drifter higher to 3.93% this week. The interest rate on the shorter-term, 15-year mortgage rose by 1 basis point to 3.16%, according to the the latest data. The interest rate on the 5/1 ARM surged in Bankrate’s survey, this type of loan is now coming out at 3.28%.
For further details on the latest home purchase and refinance mortgage interest rates at HSBC Bank, as well as information on borrowing terms and conditions and loan assumptions, please take a visit to the financial institution’s website.