Capital One Financial Kept its Mortgage Interest Rates Unchanged on April 21, 2014

Capital One Financial Kept its Mortgage Interest Rates Unchanged on April 21, 2014

The Easter weekend surprisingly didn’t bring along much change in the benchmark 30 year fixed mortgage interest rates published by Capital One Financial Corp (NYSE: COF) on April 21, 2014. As of now, the borrowers interested in financing their new home purchase through ideal home loan deals offered by Capital One bank will find no absolute change in the interest rates today and can spot the loan packages coming out at same rates as last week.

A closer look at the new mortgage information released by the bank will reveal that the standard, long term, 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 4.375% and are carrying an annual percentage rate of 4.378% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loans can be locked in at an interest rate of 3.500% and an annual return rate of 3.506% this Monday.

For the potential home buyers, who are seeking ideal finances to back their expensive realty investment from Capital One, the jumbo versions of 30 year fixed rate mortgage deals would a perfect choice at a lending rate of 4.250% and an annual percentage yield of 4.251% today, which is certainly higher than the APR yield offered by non-jumbo loans. Alternatively, the short term, 15 year counterparts of the 30 year jumbo fixed rate mortgage home loans are now up for grabs at an interest rate of 3.875% and an APR yield of 3.877% this Monday.

When it comes to the flexible financing options, the interested customers can spot the best 5 year adjustable rate mortgage loans being traded at a starting rate of interest of 3.000% and being backed by an APR yield of 2.839% to begin with. However, the borrowers, who want to enjoy more flexibility in terms of interest rates, can opt for the 7 year adjustable rate mortgage home loans, which are now carrying an interest rate of 3.250% and an APR yield of 2.983% during the initial years of the home loan tenure.

The mortgage interest rates quoted by banks normally go up and down depending upon fluctuations in the prices of mortgage backed financial instruments, which generally follow the stock market movements. As the Wall Street lost its ground towards the end of the trading day and drove the DJIA index down to 15337.70, Capital One followed the footsteps of stock market and published its mortgage rates accordingly. Irrespective of mortgage rates, the stock price of COF shares moved up by +0.88% and closed at a new price mark of 67.60.

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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About the author

Rob is a analyst and reporter covering stocks and business news.