Bank of America had started the day by presenting their quote for the 30 year fixed rate mortgage. The 30 year FRM is at 4.500% with an APR of 4.640%. Also available is their offer for 15 year FRM which can be had at 3.500% with an APR of 3.817%. More flexible and shorter terms are available starting from the 7 year adjustable rate mortgage at 3.750% with an APR of 3.505%. Next is the 5 year ARM which can be had at 3.375% carrying with it an APR of 3.267%.
Also available from Wells Fargo today is their rate for the 30 year FRM at 4.625% with an equivalent APR of 4.673%. FHA has theirs at 4.500% with an APR of 4.733%. This is followed by the bank’s quote for the 15 year FRM at 3.500% with a corresponding APR of 3.795%. FHA also released theirs at 3.625% with an equivalent APR of 2.716%. Flexible and much shorter rates available in 5 years term are also offered by the bank at 3.250% yielding with it an APR of 3.120%.
Last is the rates offered by PNC Bank starting from the 30 year FRM which can be had at the bank at 4.500% with an APR of 4.630%. Rates or the 20 year FRM is also offered at 4.125% with an APR of 4.299%. A shorter term is also available with the 15 year FRM that is made available today at 3.375% with an APR of 3.589%. Last is the 10 year FRM offered at 3.250% with an APR of 3.505%.
Bank of America and PNC Bank both hold the lowest rate offered today for the 30 year FRM; it is available and can be had at 4.500%, a much lower rate compared to the offer of Wells Fargo which is at 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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