Two major loan providers in the country, U.S. Bank (NYSE:USB) and Quicken Loans updated their mortgage interest rates for September 14, 2014, which are discussed below.
At this bank the long-term 30-year FRM is up for grabs at a rate of 4.375% and an annual percentage rate of 4.448% completes the package. The 15-year fixed counterpart demands 3.625% in interest, whilst the APR is set at 3.751%.
Mortgages that are backed by the Federal Housing Administration (FHA) are also available at this financial institution. Today, the standard 30-year fixed FHA loan carries a rate of 4.125% and the loan is coupled with an annual percentage rate of 5.685%. The 15-year version of this type of loan is quoted at 3.500% and the package contains 4.569% by way of APR.
Apart from FHA mortgages, qualified borrowers may be able to lock rock-bottom rates on VA mortgage packages as well. As of Sunday, U.S. Bank is offering the 30-year fixed VA loan at a rate of 4.250%, whilst the annual percentage rate is set at 4.598%. The 15-year VA mortgage, on the other hand, is on the books at 3.500% and the deal features an APR variable of 4.098%.
Mortgages which exceed conforming loan limits can also be found at this bank. Currently, the 30-year fixed jumbo mortgage is published at a rate of 4.375%. The loan’s APR is listed at 4.448%. The shorter, 15-year jumbo loan is available at a rate of 4.000% and it carries an APR variable of 4.127%, according to U.S. Bank’s rate information.
Under this lender, the 5-year adjustable rate home mortgage is advertised at a rate of 3.000% and an APR of 2.986% completes the deal. The 3-year ARM alternative can be obtained at a rate of 2.875%, whilst the APR is 2.942%.
Detroit-based Quicken Loans is also an established lender, which offers various loans for potential customers. At this financial institution, the 30-year fixed home refinance mortgage loan is advertised at a rate of 4.25% and the loan is coupled with an APR variable of 4.505%. The shorter-term 15-year fixed home refinance loan is quoted at 3.375% and carries 3.833% by way of annual percentage rate.
Just like at U.S. Bank, individuals can find a number of FHA loans on offer at Quicken Loans. The 15-year fixed FHA mortgage is advertised at a rate of 3.125%. The accompanying annual percentage rate is 4.179%.
The more flexible 7/1 adjustable rate mortgage is available at a rate of 3.375%, which is coupled with an APR figure of 3.356%.
Further information on U.S. Bank’s and Quicken Loans’ current mortgage rates and APRs can be found on the lenders’ websites.