This Friday did not bring along any pleasant or unpleasant surprise for the home buyers, who are planning on having their new home purchase or refinancing needs taken care by US Bank Corp (NYSE: USB) on April 25, 2014. Today, the bank made no change to its benchmark 30 year fixed mortgage interest rates, thereby continuing to trade its ideal home loans at the same interest rates as yesterday and making no difference to the demand of its loan products in the market.
The potential home buyers, who are finding it hard to secure standard home loan due to their bad credit rating, or insufficient funds for dealing with the heavy down payment requirements, can reap the benefits of FHA insured 30 year fixed rate mortgage home loan schemes, which are now coming out at a lending rate of 4.375% and an APR yield of 4.879%. On the contrary, the 15 year FHA fixed rate mortgage home loan plans are up for grabs at an interest rate of 4.000% and an APR yield of 4.565% today.
As far as the adjustable rate mortgage options are considered, the bank now offering its best, 3 year home loan deals, at a starting interest rate of 2.250% and an APR yield of 3.261% to begin with. On the other hand, the more flexible, 7 year adjustable rate mortgage home loans are being traded at an interest rate of 2.625% and an annual return rate of 3.250% today.