Mortgage Rates Roundup Today: US Bank Adjustable Rate Mortgages Slide
Mortgage rates were mixed today among the major US lenders. For instance, US Bank’s (NYSE:USB) ARM packages for home purchase dropped, while the 30-year fixed rate deal increased. In fact, the 5-year ARM deal at US Bank is now being offered for 2.375% – 2.625%, depending on the chosen discount rate. The shorter 3-year option is available at a rate of 2.375% – 2.500%.
Today at US Bank, the 30-year fixed term package for purchase slightly increased and now it can be taken home for 3.750% – 4.000%.
Moving on to other lenders, Bank of America (NYSE:BAC) and Chase (NYSE:JPM) raised their long term (30-year) fixed rate packages for new and used home purchases and now they are carrying a rate of 4.000%. For those who prefer shorter deals, the 15-year fixed loan can be locked in at both banks at a rate of 3.250%.
TD Bank (NYSE:TD) advertises the 30-year FRM package at a rate of 4.060% and an annual percentage rate of 4.113%. The shorter but also popular 15-year fixed mortgage loan is available for 3.215% and an APR variable of 3.308%.
On the other hand, Wells Fargo (NYSE:WFC) continues to attract borrowers with some of the best ARM loans out there. The 5-year ARM for home purchase can be picked up at Wells Fargo for as low as 2.250% and an APR yielding to 3.145%. Needless to say, this deal offers a striking value for money.
Purchase rates at PNC Bank (NYSE:PNC) maintained their strength since last week, as the 30-year fixed package is now being offered for 4.250% – 4.625%, while the 15-year FRMs are up for grabs at a rate of 3.375% – 3.875%.
As far as KeyBank’s (NYSE:KEY) home purchase rates are concerned, there is no major movement since last week. The standard 30-year FRM deal is now starting at 4.040% and an APR amounting to 4.097%. The 15-year fixed rate loan could be a good option as well for those who are looking to invest in a new or used home. This mortgage deal now carries a rate of 3.310% and an APR yielding to 3.411%.
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