30 year loan deals are available starting at 4.410% at HSBC Bank (NYSE:HBC) today carrying an APR of 4.473%. The best 30 year FHA fixed rate mortgage interest rates can be had for 4.125% yielding an APR of 4.304%. The VA 30 year FRMs can be had for 4.125% yielding an APR of 4.310%.
The short term, popular 15 year FRM interest rates are published at 3.460% at the bank with an APR of 3.572% today.
As far as ARMs go, 5 year loans at HSBC are listed at 3.210% with a starting APR of 2.971%. The 7/1 ARMS are published at 3.460% with a starting APR of 3.140%. 10 year Adjustable Rate Mortgages are being offered for 3.810% today yielding an APR of 3.463% to start.
Market Impact on Mortgage Rates
Rates banks charge are usually sensitive to mortgages traded by banks in financial markets that move in concert with the stock market. Financial markets went down in today’s trading leaving the DJIA at 15,337.70 a decrease of -113.35.
Today’s rates at HSBC blindly followed the days trading results. Specifically, HSBC’s stock price went down to 55.44 down -0.11%.