Today, the 30 year fixed rate mortgage from the Bank of America has been released and advertised to be available at an interest rate of 4.750% with an annual percentage rate of 4.876%, following this rate is the bank’s offer for the more flexible and adjustable terms which is the 5 year adjustable rate mortgage, it can be had at the bank at an interest rate of 4.500% with an APR of 3.547%. Refinance rates are also being made available today starting from the 30 year refinance at 4.875% with an APR of 5.006%, followed by the 5 year refinance at 4.500% with an APR of 3.558%.
Moving on to Wells Fargo, the bank has also released their version of the 30 year FRM which is listed at 4.750% with an APR of 4.926%. The FHA has theirs at 4.625% with an APR of 6.145%. This is followed by 3.750% with an APR of 4.047%. Next is the offer for the 5 year ARM, this can be had at 3.375% with an APR of 3.208%. FHA has their version of this term; this can be had at the bank at an interest rate of 3.750% with an APR of 4.132%.
PNC Bank has also published their rates starting with the 30 year FRM at 4.625% with an APR of 4.762%. This is followed by the 20 year FRM at 4.250% with an APR of 4.250% with an APR of 4.493%. The shorter term 15 year FRM is also available at 3.500% with an APR of 3.743%. Last is the much shorter 10 year FRM offered at 3.250% with an APR of 4.493%.
The lowest rate for the 30 year FRM is being held today by PNC Bank, their rate is at 4.625%, a lower rate compared to the 4.750% of Bank of America and Wells Fargo.
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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