Of all the major mortgage lenders operating in the United States, US Bank Corp (NYSE: USB) is one such bank that always manages to please the customers by keeping its mortgage interest rates steady for as long as possible. At the beginning of the new week, the lender did not bring about any change in its benchmark 30 year fixed mortgage rates, thereby maintaining the popularity of its home purchase and refinancing home loans in the market.
As per the newly published mortgage charts, the long term, 30 year fixed rate mortgage loans are still coming out at an interest rate equivalent to 4.500% and carry an impressive annual percentage yield of 4.673%. If following the long term approach is not on the cards, the mortgagors can go for the shorter, 15 year fixed rate home loans that are currently traded at 3.500% and yield an APR of 3.811% to start with. US Bank Corp also provides the shortest, 10 year FRM deals against a lending charge of 3.375% and an APR yield of 3.823%.
For the customers looking forward to financing their big home purchases, the 30 year jumbo fixed rate mortgage loans would be an ideal pick at a rate of 4.625% and a higher APR yield of 4.777% as against the normal home loans. In the short term loaning section, the 15 year versions of the 30 year jumbo FRM loans are quoted at a rate of 3.750% and carry an APR yield of 4.008%.
The customers who are finding it difficult to pay heavy down payments for financing their home purchase or are being troubled by the ghost of their poor credit past, the FHA approved 30 year fixed rate mortgages can be an ideal option at a rate of 4.375% and an APR yield of 4.879%. Alternatively, the borrowers can also find the 15 year FHA fixed rate home loans published in the bank’s books at a rate of 4.375% and a higher APR yield of 4.879%.
US Bank Corp also offers the VA variants of the 30 year FRM loans against a lending rate of 4.500%, which is accompanied by an APR yield of 4.846%. On the other hand, the 15 year VA versions of fixed rate mortgage schemes can be had at an interest rate of 4.000%, along with an APR return of 4.565%.
For the borrowers looking for more flexibility in terms of interest costs, the best 3 year adjustable rate mortgage loans would be an ideal pick at a rate of 2.250% and an APR yield of 3.261%. Alternatively, the 5 year ARM home loans can be locked in at a lending cost of 2.625% today and a starting APR yield 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.
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