U.S. Bancorp (NYSE:USB) Maintains Position Among Market Leaders And Moody’s Releases A Weekly Credit Outlook Report


U.S. Bancorp (NYSE:USB) has maintained its place as one one of the country’s market leaders over the weekend and for another time started the new week with some of the lowest home purchase and refinance mortgage rates to be found in the industry. The debates are continuing, whether the last part of lowest levels on record has already arrived and that the future is expected to bring more upticks.

As of today’s morning, US Bank is providing the benchmark 30-year fixed-rate mortgage package for as minimum as 3.500% and annual percentage rate (APR) of 3.673%, which is listed next to the 15 year purchase package now for as little as 2.750% and an APR of 3.109%.

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Home buyers who decided to invest through the 30 year fixed rate FHA home purchase loan can anticipate to pay an interest rate of 3.250% and 3.791% if they choose the way of APR 3.791%, while the 15 year version fixed rate FHA home purchase loan now at a low 2.750% and APR of 3.433%.

Separately, Moody’s Investors Service said Iceland’s Housing Finance Fund’s rating is under pressure as its loan restrictions weigh on its market share. Non-inflation indexed credit issuance of commercial banks is credit negative for HFF, holding back its market stake and franchise value, according to Moody’s.

The commercial banks are improving their balance sheets and franchises using this collateralized household loan, it is credit positive. Moody’s released a weekly credit outlook report today revealing the BAA3 rated government-owned lender faced a 40% fall in mortgage lending during the first six months of 2012 as compared to a year ago. The rating company said Loans dropped and the fund surrendered its stake in the market to commercial banks because it is restricted to inflation-linked funding and loans.


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