Defying the movement of several other mortgage lenders, who chose to publish somewhat improved lending rates today, US Bank Corp (NYSE: USB) decided to make no change to its benchmark 30 year fixed mortgage interest rates on February 20, 2014. This Thursday, which is normally defined by the unpleasant changes in the lending rates every week, brought along a surprise for the potential borrowers, who will find the fixed and flexible home loans trading at the same interest rates.
Today, the standard, home 30 year fixed home loans can be obtained at the same interest rate of 4.500%, along with an annual percentage rate of 4.673%. For the seekers of short term financing options, the 15 year fixed rate mortgage options are published in the bank’s books at a rate of 3.500% and an APR yield of 3.811%. The shortest, 10 year fixed rate mortgage schemes can also be locked in at an interest rate of 3.375% and an APR yield of 3.823%.
The mortgagor shoppers, who are troubled by the bad credit score of their past or are not able to deal with the heavy down payment requirement, can find the standard 30 year FHA insured fixed rate home loans being advertised at an interest rate of 4.375% and an APR yield of 4.879% today. The relatively shorter, FHA backed 15 year fixed rate mortgage packages are now published against an interest cost of 4.000% and are coming out with an APR yield of 4.565%.
For the seekers of expensive home buyers, who are planning on getting the huge monetary needs financed from US Bank Corp, the 30 year jumbo fixed rate mortgage home loan deals can be availed at the same interest rate of 4.625% and an annual percentage yield of 4.777% today. On the other hand, the relatively shorter, 15 year jumbo fixed rate mortgage plans are coming out at an interest charge of 3.750% and an annual return of 4.008% today.
The mortgage shoppers, who are hoping to secure ideal home loan deals at variable rates of interest, can pick up the best 3 year adjustable rate mortgage home loan packages, which are now being traded at a starting interest cost of 2.250% and an APR yield of 3.261% to begin with. The more flexible, 5 year adjustable rate mortgage plans can be locked in at an interest price of 2.625% and an APR yield of 3.250% on the initial amount of loan taken from the bank.
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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