The 30 year fixed rate mortgage is released today by Bank of America; the said term can be had at an interest rate of 4.500% with an APR of 4.760%. The said term is followed by the bank’s offer for the 15 year FRM that is listed at 3.500% with an APR of 3.892%. Contrary to this, the bank has also published two adjustable rates which are the 7 year adjustable rate mortgage which can be had 4.000% with an APR of 3.693% and the 5 year ARM that is announced to be available and can be had at the bank at an interest rate of 3.625% with an APR of 3.425%.
Wells Fargo on the other hand has also released their quote for the 30 year FRM which is offered at their bank at an interest rate of 4.625% with an APR of 4.799%. FHA also released theirs at 4.625% with an APR of 5.846%. The shorter term 15 year FRM is also on the books today and is listed at 3.625% with an APR of 3.921%. The still shorter term of 5 year ARM is also introduced by the bank today and is available at an interest rate of 3.256% with an APR of 3.164%, followed by the version of the FHA that is offered by the bank at 3.750% with an APR of 3.648%.
The 30 year FRM version of PNC Bank is listed at 4.500% with an APR of 4.668%. Next on the list is the 20 year FRM which can be had at 4.125% with an APR of 4.366%. Also available today is the shorter term 15 year FRM offered at 3.375% with an APR of 3.607%, the list is concluded by the 10 year FRM which can be had at 3.125% with an APR of 3.607%.
Both Bank of America and PNC Bank hold today low rate for the 30 year FRM which is at 4.500% compared to Wells Fargo’s 4.625%.
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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