The 30 year fixed rate mortgage from Bank of America have been released today at 4.500% with an APR of 4.700%, followed by the 15 year FRM also made available at the bank at an interest rate of 3.500% with an APR of 3.855%. The bank has also released terms that are meant to cater those who might opt for a much shorter term by means of offering the 7 year adjustable rate mortgage at 3.875% with an APR of 3.630% and the 5 year ARM that is quoted at 3.500% with an APR of 3.377%.
Wells Fargo has also released their quote for the 30 year FRM at 4.375% with an APR of 4.547%. FHA released their version at 4.250% with an APR of 4.733%. Next is the bank’s offer for the 15 year FRM, which is at 3.375% with an APR of 3.669%. An adjustable rate is also available at the bank today, the 5 year adjustable rate mortgage is offered by the bank today at an interest rate of 3.000% with an APR of 3.076%. FHA has theirs at 2.716%.
Last is the PNC Bank, which has released their quote for the 30 year FRM, it is listed at 4.500% with an APR of 4.586%. Also available at the bank is the 4.125% with an APR of 4.284%. The shorter term of 15 year FRM is offered by the bank today and is on the books for 3.375% with an APR of 3.533%. At the tail of all the offers, the much shorter term of 10 year FRM is quoted by the bank today at 3.125% with an APR of 3.431%.
Because of Wells Fargo’s decrease in the 30 year FRM quote, it now holds the lowest rate for the said term. Bank of America and PNC Bank both have theirs at 4.500%.
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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