The benchmark 30 year FRMs at HSBC Bank (NYSE:HBC) are being offered for 3.73% carrying an APR of 3.814%. The shorter term 15 year loan interest rates stand at 3.06% carrying an APR of 3.204%.
The 5 year ARM interest rates at HSBC are on the books at 3% and the APR is 3.415%. 7 year Adjustable Rate Mortgages are on the books at 3.25% showing an APR of 3.465%. The 10 year ARMs can be had for 3.375% today yielding an APR of 3.535% to start.
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Mortgage and refinance rates sometimes rise and fall with MBS security prices which move in concert with the stock market. Overall markets gained ground by market close putting the DOW at 17917.00.
But the bank took a different path than the financial markets. Independent of mortgage rates, HSBC’s own stock ticker lowered to 1.63 down -0.05.