Mortgage Rates at US Bank Corp show Little Movement and so does the Bank’s Stock

Mortgage Rates at US Bank CorpUnaffected by the present-day realty market conditions, the standard 30 year fixed mortgage rates at US Bank Corp (NYSE: USB) show normal movements on 11 November, 2013. The bank continues to publish its benchmark 30 year fixed rate mortgages at an interest rate of 4.500%, along with an APR yield of 4.673% today.

For the borrowers who are looking for short term loan options, the bank provides 15 year fixed rate mortgage plans at a rate of 3.500%, which are accompanied by an annual percentage yield of 3.811%. Even shorter 10 year fixed rate mortgage schemes are included in the bank’s product portfolio and can be acquired at a rate of 3.375% and an APR yield of 3.823%.

Sometimes, borrowers might face difficulties in procuring a loan due to a bad credit score or limited bank balance for dealing with the down payment requirements. It is the FHA (Federal Housing Administration) versions of the 30 year fixed mortgage loans that prove to be the best choice. US Bank Corp provides the 30 year FHA FRMs at a rate of 4.375% and an APR yield of 4.879%. The 15 year FHA FRMs are also provided by the bank at a rate of 4.000% and yield an APR of 4.565%.

Of all the loan options provided by the banks, Jumbo loans increase the reputation of US Bank Corp among the borrowers. The bank provides 30 year Jumbo fixed rate mortgages at a rate of 4.625%, which carry any annual percentage yield of 4.777%. The relatively short term 15 year Jumbo FRMs have been published at a rate of 3.750% and an APR yield of 4.008 % today.

US Bank Corp also includes the VA versions of FRM loans in its portfolio. As for now, the standard 30 year VA fixed rate mortgages are available at a rate of 4.500% and an APR yield of 4.846%. The American lender also provides a shorter, 15 year version of the VA FRMs at a rate of 4.000%, along with an APR yield of 4.721%.

As far as the flexible, adjustable rate mortgage plans are considered, the bank lists its 3 year ARMs at a rate of 2.250% in the books today, which are accompanied by an APR of 3.261%. The more flexible, 5/1 adjustable rate mortgages are now quoted at a rate of 2.625% to start with and an APR yield of 3.250%.

The interest rates generally rise or fall, depending on the movement in the price of mortgage backed securities, which are often affected by the stock market movements. The financial market lost its higher ground by the day’s end and plunged the DJIA index to 15337.70 as the market closed. The US Bank Corp mortgage rates took the lead and followed the stock market movement. However, the stock price responded positively and reached up to a mark of 36.95 by the end of the day.

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.

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About the author

Rob is a analyst and reporter covering stocks and business news.