Following the trail of several other fellow lenders, US Bank Corp (NYSE: USB) chose to offer its popular new and refinancing loans at the same standard 30 year fixed mortgage interest rates. This Thursday, which is usually embarked by a sudden change in the mortgage rates every week, surprised the potential borrowers as many banks chose to give away loans at the same rates.
Today, the benchmark 30 year fixed home loans can be secured at the same rate of 4.500% and along with an unchanged APR yield of 4.673%. For the admirers of short term financing options, the 15 year fixed rate mortgage options appear to be the best deal at a rate of 3.500% and an APR yield of 3.811%. The shortest, 10 year FRM plans can be acquired by bearing an interest rate of 3.375% and an APR yield of 3.823%.
The Jumbo loan division at US Bank Corp also continues to give away loans to the interested customers at the same rate. The 30 year Jumbo FRM loans are up for grabs at a rate of 4.625% and carry an APR yield of 4.777%. On the other hand, the 15 year Jumbo fixed rate deals can be procured at an interest charge of 3.750% and an APR yield of 4.008%.
The prospective mortgagors, who are troubled by the poor credit score or do not have enough balance in their account for paying the heavy down payments, US Bank Corp offers its standard 30 year FHA insured FRM schemes at an interest rate of 4.375% and an APR yield of 4.879%. The shorter, 15 year FHA backed fixed rate mortgage loan is listed at an interest rate of 4.000% and can be availed with an APR yield of 4.565%.
US Bank Corp also includes the VA versions of 30 year fixed rate mortgage loans in its books at the same rate of interest, equivalent to 4.500% and are accompanied by an APR yield of 4.846%. The 15 year VA FRM deals can also be obtained from the bank by those who can bear an interest charge of 4.000% and agree to an APR yield of 4.721%.
In the adjustable rate mortgages wing, the 3 year plans are quoted at a rate of 2.250% today and carry an APR yield of 3.261%. The 5 year ARMs, on the other hand, bear an interest charge of 2.625% and provide an APR yield of 3.250% to start with.
In a latest partnership, the credit card giant, American Express has formed an alliance with the US Bank Corp to accept credit cards on its network from next year onwards. The bank is now working with the American Express to design appealing programs for the customers and start the service by 2014 fall.
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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