Following its usual pricing approach, the popular mortgage lender, US Bank Corp (NYSE: USB) chose to make no changes to its benchmark 30 year fixed mortgage interest rates on April 22, 2014. According to the new home loan information released by the bank this Tuesday, the fixed and flexible home loan deals are still being traded at the same interest rates as yesterday, thereby not upsetting the overall demand of USB home loans in the market.
To begin with, under the standard, long term lending section, the bank highlights its best 30 year fixed rate mortgage home loans at an interest rate of 4.500% and an annual percentage rate of 4.673% today. On the contrary, in the short term lending section, the bank lists its 15 year fixed rate mortgage options at an interest rate of 3.500% and an APR yield of 3.811%. The interested customers can also find the shortest, 10 year fixed rate mortgage home loan plans being published in the banks books at an interest rate of 3.375% and an APR yield of 3.823% this Tuesday.
The potential home buyers, who are troubled by the poor credit score of the past, or are unable to service heavy down payments for securing conventional home loans, can opt for the FHA backed 30 year fixed rate mortgage home loans, which are now advertised at an interest rate of 4.375% and an APR yield of 4.879%. On the other hand, the relatively shorter, 15 year FHA fixed rate mortgage loans can be locked in at an interest rate of 4.000% and an APR yield of 4.565% today.
In the exclusive lending division, the bank offers jumbo versions of its popular 30 year fixed rate mortgage deals to the mortgage shoppers, who are looking forward to finance their expensive home purchase, at an interest rate of 4.625% and an APR yield of 4.777%. However, the relatively shorter, 15 year jumbo fixed rate mortgage home loan deals can be secured at an interest price of 3.750% and an APR yield of 4.008%.
As far as the adjustable rate mortgage loans are considered, the best 3 year deals are coming out at a starting interest rate of 2.250% and an APR yield of 3.261% to start with. On the other hand, the more flexible, 5 year adjustable rate mortgage home loans can be locked in at a lending rate of 2.625% and an APR yield of 3.250% during the starting years of the home loan period.
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.