Capital One Financial Made No Change to its Mortgage Interest Rates on March 28, 2014

This Friday, the US based mortgage lender, Capital One Financial Corp (NYSE: COF), did not surprise its potential customers by making any pleasant or unpleasant changes to the benchmark 30 year fixed mortgage interest rates. A closer look at the current mortgage rate charts published by the banks on March 28, 2014 will reveal that the fixed and the flexible home loan deals are coming out at the same interest rates as yesterday.

To begin with, under the standard, long term home financing category, the bank is currently charging the borrowers with an interest rate of 4.375% and is offering an annual percentage yield of 4.378% to the borrowers who are interested in acquiring the 30 year fixed rate mortgage home loans today. On the other hand, in the short term lending section, 15 year fixed rate mortgage home loan plans are now being listed against a lending charge of 3.500% and are carrying an annual percentage rate of 3.506% today.

For the potential home buyers, who are willing to purchase expensive homes and are looking forward to have it financed by Capital One bank, the jumbo versions of its popular 30 year fixed rate mortgage home loans would be a perfect pick at an interest price of 4.375% and an APR yield of 4.376% today. Alternatively, the short term, 15 year jumbo fixed rate mortgage loan deals are being traded at an interest rate of 3.875% and are backed by an annual return rate of 3.877% today.

As far as the flexible home loan options are considered, the seekers of variable rates of interest can opt for the best 5 year adjustable rate mortgage home loan packages made available by the bank at a starting interest rate of 3.000% and an APR yield of 2.839% today. On the other hand, the more flexible, 7 year adjustable rate mortgage home loan deals can now be locked in at an interest price of 3.375% and an APR yield of 3.041% during the starting years of the home loan tenure.

The interest rates quoted by banks move up and down on the basis of changes in the prices of mortgage backed bonds and securities, which are known to follow stock market movements closely. As the stock market lost its ground towards the end of the day, leaving the DJIA index at 15337.70 after a fall of -113.35, Capital One followed its footsteps for publishing its home loan rates today. However, irrespective of the interest rates, the stock prices of the COF shares increased by +0.88% and touched a new price level 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.