The second day of the second week is here and there is still no change in the benchmark 30 year fixed mortgage rates at the US Bank Corp (NYSE: USB). On Tuesday, November 19, 2013, the bank continues to happily sell its mortgage products at the same interest and APR rates, as it has been doing for the past several days.
Not bringing in any surprises for the potential borrowers, the US Bank Corp published its standard 30 year fixed rate mortgage loans at an unchanged rate of 4.500%, which also carry the same percentage of APR yield, which is 4.673%, today.
In the short-term group, the bank lists its 15 year fixed rate mortgage plans at an interest rate of 3.500%, which yield an APR of 3.811%. The US based lender manages to please the borrowers who are looking for an even shorter financing option, the bank provides 10 year fixed rate mortgage loans at an interest rate of 3.375% to start with and an APR yield of 3.823%.
Sometimes, the mortgagors are looking for bigger financing options in order to cater to their bigger dreams. US Bank Corp provides the standard 30 year Jumbo Fixed rate mortgages at an interest rate of 4.625%, along with an APR yield of 4.777%. The relatively shorter, 15 year jumbo fixed rate mortgage plans are quoted at a rate of 3.750% and an APR yield of 4.008%.
US Bank Corp understands the plight of the customers who cannot find proper finance due to their poor credit score or unavailability of enough bank balance to deal with heavy down payment and thus, provides the FHA approved fixed rate mortgage loans. The 30 year FHA FRM loans are now listed at a rate of 4.375% and accompany an APR yield of 4.879%. The short term, 15 year FHA fixed rate mortgages can be acquired at an interest rate of 4.000% and an APR yield of 4.565%.
The VA versions of the 30 year fixed rate mortgage loans are also included in the bank’s books at an interest rate of 4.500% and carry an APR yield of 4.846%. For the admirers of short term financing, the 15 year VA FRM loans are available at an interest rate of 4.000% and an APR yield of 4.721%.
In the adjustable rate mortgage department, the borrowers can get 3 year ARM loans at an interest rate of 2.250% and an APR yield of 3.261%. The 5 year adjustable rate mortgage loans, on the other hand, are quoted at a rate of 2.625% and come along with an APR yield of 3.250%.
Most of the times, the mortgage rates fluctuate due to the mortgage backed bonds and securities traded by the banks in financial markets, which are often dependent on the movements of the stock market. At the end of the day, the stock market closed by putting down the DJIA index at 15337.70. As expected, the rates also followed the trail of the DJIA index. However, the USB Stock prices did jump up by +0.18 price points and closed at 36.95.
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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