US Bank Corp Holds its Mortgage Interest Rates Steady (December 10, 2013)
US Bank Corp (NYSE: USB) has always been a popular mortgage lender due to its ability to hold on to the mortgage interest rates for as long as possible, which is perhaps the biggest reason behind the top-spot honor in the list of banks with excellent customer service in the States. On December 10, 2013, the US based lender managed to keep its benchmark 30 year fixed mortgage interest rates steady for the potential home buyers and refinance loan seekers.
Today, the prospective borrowers might have to deal with an interest rate of 4.500% and an APR yield of 4.673% if they are to finance their dream home through the standard 30 year fixed rate mortgage loans. However, if the long term options prove to be a bit expensive, the borrowers can lighten their pockets by looking for short term, 15 year fixed rate mortgage loans, which are priced at a rate of 3.500% and carry an APR yield of 3.811%.
For the borrowers who might be concerned about the heavy down payments involved or seem to be troubled by their poor credit score of the past, the lender publishes FHA approved fixed rate mortgage loans in its portfolio. As of now, the 30 year FHA versions of FRM loans can be obtained at an interest rate of 4.375% and an APR yield of 4.879%. Likewise, the short term, 15 year FHA backed fixed rate mortgage loans can be had at an interest rate of 4.000% and an APR yield of 4.565%.
In the jumbo loan section, the borrowers can find the 30 year jumbo fixed rate mortgage loans quoted against a lending charge of 4.625% and a bit higher APR yield of 4.777% as compared to the conventional mortgage deals. The relatively shorter, 15 year jumbo fixed rate mortgage home loans are up for grabs at a rate of 3.750% and come along with an APR yield of 4.008% today.
When it comes to the VA versions of fixed rate mortgages, the 30 year long term deals can be finalized at a rate of 4.500% and an APR yield of 4.846%. On the contrary, the 15 year counterparts of the 30 year VA FRM deals can be acquired by bearing an interest charge of 4.000% and an APR yield of 4.721%.
Talking about the variable interest rate game, the interest customers can spot the 3 year adjustable rate mortgage options published at an interest charge of 2.250% and an APR yield of 3.261%. As far as the more flexible, 5 year ARM deals go, the customers can obtain them by bearing an interest charge of 2.625% and enjoying a higher APR return of 3.250%.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.