Bank of America today offered an interest rate of 4.875% for the 30 years fixed rate mortgage, which carried an APR of 4.989%. In comparison to this the variable 5/1 ARM are presented at an interest rate of 4.500% whereas the APR for the same being 3.681%. In the category of refinance, the 30 years fixed rate mortgage as offered by Bank of America is 5.000% with an APR of 5.089%. The 5/1 variable ARM in the refinance category is available at a rate of 4.000%, having a bit lower APR of 3.447%.
Moving to Well Fargo bank, the 30 years fixed rate mortgage is being offered at a rate of interest of 4.750% today with an APR of 4.926%. The 15 year fixed rate mortgage of common small term were presented at a rate of interest of 3.875% whereas the APR for the same being 4.713%. The rate of interest for the 30 year fixed FHA of this bank is 4.750% with an APR of 5.986%. Whereas the 5 year ARM FHA for this bank is rated at 3.250% stretching a slightly higher APR of 3.335%.
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The PNC bank is offering 30 year loans at an interest rate of 4.625% which generate an APR of 4.817%. The 15 year short term loans are available at 3.5% with an APR of 3.799%. In the category of refinance, the 30 year fixed mortgage is available at 4.750% with an APR of 4.941%; while the Short term 15 year mortgage is quoted at 3.625% that carries an APR of 3.939%.
Comparing the 30 year fixed rate mortgage of the above 3 banks, it can be seen that the lowest interest rate of 4.625% and an APR of 4.817% is being offered by PNC bank.
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. This website does not engage in the sale or promotion of financial products and makes no claims as to the accuracy of the quotation of interest rates.