This Thursday, which is familiar as a carrier of unpleasant news for the mortgage shoppers, did not bring along any surprise this time. As per the most up to date mortgage information made available by the bank on July 17, 2014, the qualified home loan borrowers, who are planning on securing ideal new home purchase or refinancing deals from Capital One, will find no change in the interest rates as against the figures quoted yesterday.
The potential customers, who are planning on securing perfect home loan deals at flexible interest rates, can now opt for the best 5 year adjustable rate mortgage home loan packages, which can be seen coming out at starting interest rate of 3.125% and an APR yield of 2.906% to begin with. The more flexible, 7 year variable rate home loan deals can now be locked in at an interest rate of 3.250% and an APR yield of 3.006% on the principal amount of loan secured from the bank.
The mortgage interest rates published by the bank experience upward and downward movement depending on fluctuations in the prices of mortgage backed financial instruments, which are known to follow the stock market movements closely, on any normal trading day. As the stock market plummeted towards the end of the trading day, leaving the DJIA index at 15337.70, Capital One Financial took the lead and moved in the same direction for quoting its lending rates. Regardless of the interest rates, the stock price of COF shares gained some ground and moved up on the price ladder to reach a new point of 67.60.
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