Today, the Bank of America have released their quotes for the interest rates of mortgage plans starting with the 30 year fixed rate mortgage which can be had at 4.625% with an APR of 4.754%. For those who opt for much shorter term, the 5 year adjustable rate mortgage is made available today at 4.000% with an APR of 3.397%. Also available from the bank is their refinance terms. The 30 year refinance is available today at 4.625% with an APR of 4.754%. Last is the shorter 5 year refinance that is available at 3.875% with an APR of 3.384%.
Moving on to Wells Fargo, who have also released their rates, and who has the 30 year FRM at an interest rate of 4.500% with an APR of 4.673%, while FHA has theirs at 4.375% with an APR of 5.569%. Also available is the shorter term 15 year FRM which is made available today at an interest rate of 3.500% with an APR of 3.795%. Adjustable rates are also available and can be had at the bank. The 5 year ARM is presented at 3,250% with an APR of 3.164%. FHA has theirs at 3.500% with an APR of 3.519%.
The last bank on this batch is PNC Bank, the bank’s offer for the 30 year FRM stands at 4.500% with an APR of 4.701. Next is the offer for 20 year FRM which is at 4.125% with an APR of 4.366%. Also available today is the shorter term of 15 year FRM that can be had at 3.500% with an APR of 3.743%. The much shorter term of 10 year FRM is also available at 3.250% with an APR of 3.707%.
Well Fargo and PNC Bank are at a tie on who holds the lowest rate for the 30 year FRM today. At 4.500%, considerably lower that Bank of America’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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