Michigan Mortgage Rates: US Bank and Quicken Loans Mortgage Interest Rates for March 13, 2017

us bank mortgage rates march 13, 2017Two major financial institutions in the country, U.S. Bank (NYSE:USB) and Quicken Loans updated their mortgage interest rates for March 13, 2017, which are discussed below.

As far as the popular fixed rate home loans are concerned, the standard 30-year conventional loan is published at a rate of 4.625% at this bank and carries an APR of 4.699%. The shorter-term, 15-year fixed conforming home mortgage is coming out at 3.875%. The loan package is accompanied by an APR variable of 4.002%.

Instead of standard conventional home loans, some borrowers may want to opt for Federal Housing Administration (FHA)-insured mortgage packages. Currently, the 30-year fixed FHA mortgage is advertised at U.S. Bank at a rate of 4.500%. The corresponding APR is published at 5.568%. In case of the the shorter-term, 15-year fixed rate FHA loan, the mortgage interest rate hovers at 4.000%, whilst the APR is coming out at 5.074%.

Besides FHA loans, qualified borrowers can choose from plenty of VA mortgage deals. Currently, the standard 30-year fixed VA loan is quoted at 4.500% and the annual percentage rate stands at 4.853%. The 15-year version of this type of mortgage is listed at 4.000% and features 4.607% by way of APR.

Moving on to loan options, which exceed conforming loan limits, the 30-year fixed jumbo mortgage is listed at a rate of 4.625%. The loan’s APR figure stands at 4.647%. The shorter-term, 15-year jumbo mortgage could be another suitable option for some borrowers, as it has an asking rate of 4.000% and the APR is coming out at 4.038%.

U.S. Bank’s flexible home purchase loan options include the 5-year adjustable rate mortgage, which is listed at a rate of 3.500% and an APR of 3.650%. The 3-year version of this loan comes with an interest rate of 3.375% and a corresponding APR of 3.638%.

U.S. lender, Quicken Loans is the biggest online retail mortgage provider in the United States. The company provides home refinance loans for qualified borrowers customers, among its other financial services. At the Detroit-based lender, the 30-year fixed home refinance loan starts at a rate of 4.25% and it’s coupled with an APR variable of 4.532%. The shorter-term 15-year fixed home refinance loan is up for grabs at 3.50% and it’s accompanied by an annual percentage rate of 3.926%.

Refinance mortgage loans, which are insured by the VA can also be found among Quicken Loans’ loan options. Currently, the 30-year fixed VA mortgage is listed at 3.875%. The corresponding APR figure is 4.152%.

The more flexible 5/1 adjustable rate mortgage is available at a rate of 3.375%, which is coupled with an APR figure of 4.095%.

The mortgage interest rates mentioned in the article are subject to change and are not guaranteed. More details on the lenders’ latest mortgage interest rates are available on their websites.