The 30 year fixed rate mortgage that is made available by almost every lender, is also released by Bank of America today, it is announced to be available at the bank at an interest rate of 4.500% with an APR of 4.720%, followed by the shorter term 15 year FRM published by the bank at an interest rate of 3.500% with an APR of 3.888%. Adjustable rates are also advertised by the bank today, starting with the 7 year adjustable rate mortgage at 4.000% with an APR of 3.674%, ending with the 5 year ARM at 3.500% with an APR of 3.384%.
Moving on to the next bank, Wells Fargo also did their share of releasing their interest rates for mortgage rates available at their bank, the 30 year FRM is made available by the bank at 4.375% with an APR of 4.547%. FHA also released theirs at 4.250% with an APR of 4.733%. The shorter term of 15 year FRM is also announced to be available today at 3.375% with an APR of 3.669%. An adjustable rate mortgage is made public today; the 5 year ARM is available at 3.125% with an APR of 3.120%. FHA has theirs at 3.250% with an APR of 2.796%.
Last is the PNC’s quote for the 30 year FRM which is at 4.500% with an APR of 4.657%, this is closely followed by the 20 year FRM at 4.125% with an APR of 4.351%. The shorter year of 15 year FRM is also made public today at 3.375% with an APR of 3.673%. PNC’s rates are concluded by the 10 year FRM offered at 3.250% with an APR of 3.626%.
Wells Fargo still holds the lowest rate for the 30 year FRM today, compared to the 4.500% quote of both Bank of America and PNC Bank.
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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