The 30-year fixed rate mortgage interest rates offered by the PNC bank stood at 4.000% yielding an APR of 4.194%. The 15 year FRM’s on the other hand were offered at an interest rate of 3.000%, which further capitulated an APR of 3.329%. The shorter-term 10-year loan at the PNC bank was offered at an interest of 2.875% acquiring an APR of 3.272%. The popular 20-year loans were advertised at 3.625% and yielded an APR of 3.888%. The bank offered the 30-year refinance loans at an interest rate of 4.125%, which capitulated an APR of 4.317%.
Taking a look at the prestigious bank Well Fargo, the 30-year FRM interest rates were advertised at a slightly higher interest rate i.e. 4.500% with an APR of 4.673%. The shorter-term 15-year fixed loans on the other hand were offered at an interest rate of 3.500%, which further yielded an APR of 3.795%. The bank today offered the 5-year loan at an interest rate of 2.875%, which capitulated an APR of 3.033%. The 5-year FHA was offered at an interest rate of 2.750%, which attained an APR of 3.152%.
Scanning through the Bank of India, the 30-year fixed loans were offered at an interest rate of 4.250% getting an APR of 4.337%. The shorter-term 15- year loans were advertised at an interest rate of 3.625%, which further acquired an APR of 3.843%. BOA offered the standard 30-year refinance loans at an interest rate of 4.375%, which yielded an APR of 4.483% today. In addition, the bank offered 15-year refinance loans at an interest rate of 3.750%, which acquired an APR of 3.922%.
Comparing the three banks, PNC offered the lowest 30-year loan at an interest rate of 4.000%, whereas the Wells Fargo and BOA offered an interest rate of 4.500% and 4.250% respectively. PNC bank also offered the lowest interest rate for 15-year loans at 3.000% where as interest rates of 3.500% and 3.625% were offered by Wells Fargo and BOA respectively.
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.