With talk of all time record low mortgage rates once again doing the rounds among experts and casual observers alike, PNC Bank (NYSE:PNC) is today serving as an excellent reminder that just when we think we have seen rates drop as low as they possibly can, a surprise or two is never far away.
Looking first at the most popular home purchase packages of all being offered by PNC Bank today, the standard 30 year fixed rate purchase loan now rests at 3.875% and APR of 4.003%, while the 15 year purchase loan on the other hand is being offered for 3.250% and APR of 3.416%.
Those looking to clear their balances in just 10 year can today do exactly that with a locked in rate of 3.250% and APR of 3.254%, while the 20 year fixed rate purchase loan is being offered for 3.750% and APR of 3.855%.
Moving now on to some of the better refinance options being advertised by PNC this morning, the 30 year fixed rate refinance loan can be taken out for 4.500% and an APR amounting to 4.55%, while the shorter 15 year refinance loan is a veritable steal at 3.875% and APR of 3.987%.
Of course, reminders are once again being issued that the rest of the week could just as easily bring the expected hikes as welcome drops, but for today at least there can be no denying the comprehensive level of value being offered to thousands of potential borrowers.