Today, the Bank of America released their quote for the 30 year fixed rate mortgage; it can be had at 4.625% with an APR of 4.790%. Also available today at the bank is the much shorter and flexible5 year adjustable rate that can be had at 4.000% with an APR of 3.407%. Refinance rates are also released by the bank today starting with the 30 year refinance at 4.625% with an APR of 4.759%. Last is the bank’s offer for the 5 year refinance which can be had at 3.750% with an APR of 3.290%.
Available at Wells Fargo today is their daily release of quotations for the mortgage rates starting from the 30 year FRM which is at4.625% with an APR of 4.799%. FHA has theirs at 4.625% with an APR of 5.846%. Next in the list is the 15 year FRM which can be had at the bank for 3.625 with an APR of 3.921%. For the more flexible term of 5 year ARM, it is available at 3.375% with an APR of 3.208%. FHA has theirs at 3.625% with an APR of 3.583%.
The last bank is the PNC Bank, their offer for the 30 year FRM is at 4.500% with an APR of 4.701%. Also available is the 20 year FRM at 4.125% with an APR of 4.366%. Also available is the shorter term of 15 year FRM at 3.500% with an APR of 3.743%. For a much shorter term, the 10 year FRM is also available at 3.250% with an APR of 3.707%.
When all the banks are observed, it can be seen that PNC bank holds the lowest rate for the 30 year FRM today at 4.500% a much lower rate compared to the 4.625% current quote of both Bank of America and Wells Fargo today.
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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