US Bank (NYSE:USB) is today offering an incredibly varied package of high quality mortgage deals, which like most other US lenders are hovering around some of the lowest levels seen in over 60 years.
For those interested in the standard 30 year fixed rate mortgage deal, US Bank is today offering the product for 3.750% with a resulting APR of 3.905%, while the always popular 15 year fixed rate alternative can be taken out for 3.250% with an APR of 3.504%. 10 year fixed rate deals on the other hand are being offered for 3.250%, which amounts to an APR of 3.406%.
With regard to variable terms, the 3YR ARM is today being advertised with a starting rate of 2.375% which amounts to an APR of 3.481%, while the 5YR ARM can be taken out with an introductory interest rate of just 2.625%, yielding an APR of 3.411%.
While the past week has seen a rise of over 11% in the number of refinance applications made across the US, sales of new homes are continuing on track for their worst year in over a decade.