The second day of new trading week brought along some pleasant piece of news for the potential home buyers, who are planning on securing ideal fixed and flexible home loan deals from Capital One Financial Corp (NYSE: COF) on June 17, 2014. As of now, the bank quoted improved benchmark 30 year fixed mortgage interest rates in its home loan portfolio today.
When it comes to securing required home finances at flexible interest rates, the popular 5 year adjustable rate mortgage loans are coming out at a starting interest rate of 3.125% and an APR yield of 2.906% today. The more flexible, 7 year adjustable rate mortgage home loans can now be locked in by bearing an interest price of 3.250% and an APR yield of 3.006% during the initial years of the home loan period.
The mortgage interest rates quoted by banks move up and down on the basis of changes in the prices of mortgage backed financial bonds and securities, which are known to follow the path of stock market on a usual trading day. As the market plummeted towards the end of the trading day, leaving the DJIA index at 15337.70, the bank moved along the same path blindly and quoted its mortgage interest rates accordingly. Irrespective of the mortgage rates, the stock price of COF shares increased and closed at a new price mark of 67.60 after a hike of +0.88%.
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