Released today from the Bank of America is their offer for the 30 year fixed rate mortgage. It can be had at the bank today at 4.625% with an equivalent annual percentage rate of 4.748%. For the more flexible and much shorter term of 5 year adjustable rate mortgage, the bank’s offer is 4.000% with it an APR of 3.376%. Also available at the bank today is their refinance terms, the 30 year refinance is made available today at 4.625% with an APR of 4.761%. For the shorter term of 5 year refinance, it can be had at 4.000% with an APR of 3.376%.
Wells Fargo’s quotes for their interest rates are released today. Starting off with their 30 year FRM, this can be had at 4.500% with an equivalent APR of 4.673% today. FHA also has their quote; they have theirs at 4.375% with an APR of 5.569%. When it comes to the 15 year FRM, it is made available by the bank today at 3.500% with an APR of 3.795%. Much shorter term of 5 years are also quoted for today. The 5 year ARM in this bank is available at 3.250% with an APR of 3.164%. FHA has theirs at 3.500% with an APR of 3.519%.
Last is the quotes presented today by PNC Bank. The 30 year FRM is offered today at 4.375% with an APR of 4.574%. The 20 year FRM is quoted at 4.000% with an APR of 4.239%. Next is the 15 year FRM, which is available at 3.375% with an APR of 3.673%. For the shorter term of 10 year FRM, it can be had at 3.125% with an APR of 3.607%.
Looking at the three banks, it can be observed that PNC Bank holds the lowest rate for the 30 year FRM today at 4.375% compared to Bank of America’s 4.625% and Wells Fargo’s 4.500%.
Disclaimer: The rates quoted above are basically the average advertised by a particular lending company. No guarantee of taken from the lender’ aspect whether the borrower will qualify for the mortgage rates mentioned in the article. The lenders dole out interest depending upon various facets, some of which may be unique to the borrower.
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