Quicken Loans is an online retail mortgage lender. It's the largest online home loan provider and the third largest overall lender in the country. Quicken Loans provides home loans for refinancing, among its other financial services, at the following mortgage rates, as of October 16, 2013.
The 30-year fixed home refinance mortgage package at Quicken Loans is available at an interest rate of 4.25% and an effective annual percentage rate (APR) of 4.494%. The shorter-term 15-year fixed home refinance loan is offered at 3.25% and it comes with 3.669% by way of APR.
Individuals can also opt for Federal Housing Administration (FHA)-backed loans for mortgage refinancing, with the 15-year fixed FHA mortgage coming out at 3.25% as of Wednesday. The accompanying annual percentage rate stands at 4.268%.
Those who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options from Quicken Loans. These come with a fixed interest rate period then the rate is adjusted depending on prevailing interest rates at the reset schedule for the rest of the loan's duration. Quicken Loans advertises the 7/1 ARM home refinance loan at 3.25%, which comes with an APR variable of 3.276%.
U.S. Bank (NYSE:USB) is a major mortgage lender, which offers home purchase and refinance mortgage packages for interested customers.
Among the lender's popular fixed conforming loans, we can mention the long-term 30-year FRM, which has an opening rate of 4.500% and carries an APR of 4.564%. The shorter, 15-year fixed conventional loan package is available at a rate of 3.625% and an APR figure of 3.734%.
Turning focus to current adjustable rate loans, the 5-year ARM home mortgage is offered by U.S. Bank at a rate of 2.875% and an APR of 3.259% while the 3-year version of this deal comes with an interest rate of 2.500% and a corresponding APR of 3.238%.
Interested borrowers will find a couple of FHA-insured loans at U.S. Bank. Currently, the 30-year fixed FHA loan is up for grabs at 4.250% and the package comes with an APR of 4.750%. The lender is offering the 15-year fixed FHA mortgage at a rate of 3.750% with an APR amounting to 4.312%.
VA mortgage loan options are also available at U.S. Bank and particularly the long-term 30-year fixed VA deal could be interesting for potential borrowers, as it bears a rate of 4.250% and has an annual percentage rate of 4.591%.
With regards to current Jumbo loan rates, the 30-year fixed Jumbo mortgage is listed at 4.000%. The corresponding APR is set at 4.136%, according to the lender's rate information.
More details on Quicken Loans' and U.S. Bank's current mortgage interest rates, can be found on the lenders' websites.
