While talking about recent changes in the US mortgage market, it is ideal to keep US Bank Corp (NYSE: USB) away from the conversation. Following its usual lead, the popular American lender made no favorable or unfavorable change to its benchmark 30 year fixed mortgage home loan rates as on September 23, 2014.
As of now, in the standard, long term home loan section, 30 year fixed rate mortgage home loan deals are being traded at an interest rate of 4.500% and an annual percentage rate of 4.673%. In the short term lending division, the bank is offering 15 year fixed rate mortgage deals at an interest rate of 3.500% and an APR yield of 3.811%. The interested customers can also spot the shortest, 10 year fixed rate home loan plans published in the bank’s books at an interest rate of 3.375% and an APR yield of 3.823%.
The potential home buyers, who are troubled by their poor credit score of the past or expensive down payment requirements for acquiring conventional home loans, can now opt for the FHA insured 30 year fixed rate mortgage deals, which are advertised by the US Bank Corp at an interest rate of 4.375% and an annual return yield of 4.879%. The shorter and less expensive, the 15 year FHA fixed rate home loan deals can now be locked in at an interest rate of 4.000% and an APR yield of 4.565%.
In the exclusive home financing division, the mortgage borrowers with expensive home loan requirements can spot the ideal 30 year jumbo fixed rate mortgage home loan schemes being listed at a lending rate of 4.625% and backed by an APR yield of 4.777% today. The relatively shorter, 15 year jumbo fixed rate mortgage plans are now up for grabs at an interest cost of 3.750% and an annual percentage yield of 4.008%.
When it comes to adjustable rate mortgage home loan deals, the bank is now offering its 3 year loan options at a starting interest rate of 2.250% and an annual return of 3.261% on the principal amount of home loan secured from the bank. The more flexible, 5 year adjustable rate mortgage deals can now be acquired by bearing an interest rate of 2.625% and agreeing to an annual return yield of 3.250% during the initial years of the home loan tenure.
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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