PNC Bank offers a variety of choices for home mortgages. Fixed and adjustable-rate terms are available from 10 to 30-year timeframes, with FHA and VA options for eligible customers. This article aims to provide useful, up-to-date information on PNC Bank mortgage rates.

PNC Bank Mortgage Rates

PNC Bank offers flexible mortgage options for fixed, adjustable, and FHA/VA-qualified buyers. The following outline gives mortgage rate, interest rate, and APR, as well as an estimated monthly payment.

Estimated Monthly Payment

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate)
Fixed 30 year 4.125% 4.340% $484.65
Fixed 20 year 3.875% 4.169% $599.41
Fixed 15 year 3.250% 3.280% $702.67
Fixed 10 year 3.125% 3.657% $971.39
ARM 3-1 3.250% 4.055% $435.21
ARM 5-1 3.250% 3.965% $435.21
ARM 7-1 3.375% 3.951% $442.10
ARM 10-1 3.750% 4.034% $463.12
FHA Fixed 30 year 3.750% 4.605% $529.78
FHA Fixed 15 year 3.375% 4.487% $767.09
VA Fixed 30 year 3.750% 4.064% $463.12
VA Fixed 15 year 3.500 4.039% $714.88

*** Note that the above rates and monthly payment terms are only estimates. Individual circumstances such as credit history, down payments, fees and other variables may significantly change the rate and monthly payment due for a given mortgage.

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PNC Bank Mortgage Rates Additional Info

Adjustable-rate mortgages (ARMs) require a note of caution: the initial payments typically advertised may rise significantly after the fixed-rate period is over. For example, a 7-1 ARM advertises $442.10 monthly payments during the first seven years.

Afterward, 1-year adjustments may push monthly obligations higher for the remainder of the loan. ARM credit risk is substantial and multiplies with larger loans such as jumbo mortgages. A mortgage rates calculator and loan comparison tool can be very helpful in determining overall mortgage costs.

Since March of 2012, mortgage rate trends have followed a pattern of gently decreasing to a minimum, then sharply spiking. The rate spikes for the 30-year mortgage rate occurred between April and July 2013, and again between September 2016 and January 2017. In both instances, the 30-year fixed rate interest bottomed out at roughly 3.5 percent, then quickly rose to 4.2-4.3 percent.

The small percentage change may mislead some into thinking that mortgage rate trends are not a significant variable. On the contrary, a 30-year fixed rate mortgage for $100,000 at 3.5 percent would mean a monthly payment of $449. The same mortgage timeframe and amount at 4.2 percent raises the monthly payment to $489. Over 30 years, the $40 monthly difference expand to $14,400 in extra interest.

Conclusion

PNC Bank mortgage rates offer favorable terms to customers looking to buy a home through a variety of timeframes and fixed or variable-rate terms. PNC Bank offers top-notch assistance with mortgage details.