The benchmark 30 year loan interest rates start at 4.480% at HSBC Bank (NYSE:HBC) and an APR of 4.549% today. 30 year FHA fixed rate mortgages start at 4.125% yielding an APR of 4.374%. The VA 30 year fixed rate mortgages are listed at 4.125% yielding an APR of 4.369%.
Popular 15 year loan interest rates are 3.530% and APR of 3.649% today.
5 year ARMs are being offered for 3.330% at HSBC with an APR of 3.016%. ARM interest rates in the 7 year category are being quoted at 3.580% currently and the APR is 3.200%. The 10/1 ARM interest rates are coming out at 3.910% currently with an APR of 3.530% to start.
Stock and Mortgage Update
All the mortgage rates published by banks sometimes vacillate with MBS’s that go in the same direction as the stock market. Stocks lost ground by close today to leave the DJIA at 15,337.70 down -0.73%.
For today HSBC followed a different course than the stock market direction. On the topic of stocks, HSBC’s own stock price waned to 55.44 down -0.06.