Stocks were up yesterday along with mortgage rates as the fiscal cliff negotiations produced fruit and traders took the opportunity to buy shares in the new year. As a result most banks raised their mortgage rates slightly by the end of the day. US Bank is still quoting one of the best rates across the board.
The best 30 year fixed rate mortgages at US Bankcorp (NYSE:USB) are listed at 3.250% today carrying an APR of 3.472%. The best 30 year FHA FRMs at the bank have been offered at 3.250% yielding an APR of 3.791%. The jumbo options for the 30 year loans have been listed at 3.750% at the bank yielding an APR of 3.894%.
The VA 30 year loans are on the books at 3.500% with an APR of 3.826%.
Shorter term, popular 15 year loans at the bank have been listed at 2.375% and an APR of 2.767%.
15 year FHA fixed rate loan interest rates are published at 2.750% today carrying an APR of 3.433%. The Jumbo version of the 15 year fixed rate mortgages start at 2.875% today yielding an APR of 3.126%. VA 15 year mortgage interest rates are published at 2.750% and APR of 3.323%. 10 year FRM interest rates are listed at 2.375% yielding an APR of 2.893% today. The 3/1 ARM interest rates are available starting at 3.000% with an APR of 3.543%. The 5 year ARM loans at US Bank are coming out at 2.625% with a starting APR of 3.332% which will change as interest rates adjust.