Towards the end of the week, and the first month of this new year, JP Morgan Chase Bank (NYSE: JPM) decided to keep its standard and refinancing home loan rates steady on January 31, 2014. The mortgage shoppers, who are planning on stopping by the local branches of Chase Bank to acquire ideal home loan deals, will find no absolute change in the benchmark 30 year fixed mortgage interest rates today.
Following the footsteps of several other mortgage lenders operating in the US financial market, Chase bank published its standard 30 year fixed rate mortgage home loan deals at an interest rate of 4.375% and an annual percentage rate of 4.492% today. In the short term lending section, popular 15 year fixed rate mortgage home loan packages are being traded at an interest price of 3.625% and an annual return rate of 3.789% today.
In the flexible home loan division, the potential customers can find the ideal 5 year adjustable rate mortgage home loan packages being traded at a starting rate of 3.500% and an annual return rate of 4.492% to begin with. On the other hand, the more flexible, 7 year adjustable rate mortgage home loans are coming out at an interest price of 3.625% and are backed by an annual return rate of 3.789% on the initial amount of the loan taken from the bank.
When it comes to the refinancing home loan offerings, the bank published its popular 30 year fixed rate mortgage packages at an interest rate of 4.500% and an annual percentage rate of 4.564%. In the alternate, short term refinancing section, the mortgage lender is currently offering its 15 year fixed rate home loan schemes at a lending rate of 3.500% and an annual percentage yield of 4.564%.
For the seekers of adjustable rate mortgage plans, the bank is now offering the ideal 5 year refinancing deals at a starting lending price of 3.375% and an APR yield of 3.118%. However, the more flexible, 7 year refinancing variable rate mortgage home loans can be had at a rate of 3.500% today and an APR yield of 3.255% to start with.
The loan rates quoted by banks generally move up and fall down depending upon the changes in the prices of mortgage backed financial instruments, which tail the stock market movements on any normal trading day. As the stocks plummeted by the end of the trading day, and left the DJIA index sitting at a lower mark of 15337.70, the bank followed the movement blindly and published its mortgage rates. However, regardless of lending rates, stock price of JPM shares touched new heights after increasing by +0.37 and crossing the price mark of 53.66.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.
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