Maintaining its usual pace, the popular US based lender, Capital One Financial Corp (NYSE: COF), quoted same benchmark 30 year fixed mortgage interest rates on June 3, 2014. The borrowers, who are interested in financing their new home purchase through ideal fixed or flexible home loan plans this Tuesday, will find no change in the lending rates as compared to yesterday.
To start with, in the standard, long term home loan section, Capital One Bank is offering the 30 year fixed rate mortgage home loans at an interest rate of 4.125% and an annual percentage rate of 4.153%. When it comes to the relatively shorter home loan deals, the potential home buyers can go for the best 15 year fixed rate mortgage home loans, which are now published against a lending rate of 3.250% and are accompanied by an annual return rate of 3.299% today.
For the mortgage shoppers, who are planning on making expensive real estate investments and are seeking adequate financial assistance from Capital One, the jumbo versions of its popular 30 year fixed rate mortgage home loans would be a perfect pick at an interest rate of 4.250% and an annual percentage yield of 4.264%, which is definitely higher than the APR yield offered by conventional home loans. In the short term home loan section, 15 year jumbo fixed rate mortgage home loans can be locked in at an interest rate of 3.750% and an APR yield of 3.774% today.
As far as the flexible home financing deals are concerned, the bank is currently providing its ideal 5 year adjustable rate mortgage loans at a starting interest rate of 3.000% and an APR yield of 2.862% today. The more flexible, 7 year adjustable rate mortgage home loans are now listed in the bank’s loan books at an interest price of 3.250% and an APR yield of 3.006% to start with.
The mortgage interest rates quoted by banks normally move up and down depending upon the changes in the prices of mortgage backed financial instruments, which are known to follow the path of stock market on a usual trading day. As the market waned towards the end of the trading day and left the DJIA index at 15337.70, the bank followed the footsteps of the market blindly and quoted its mortgage interest rates accordingly. Regardless of the mortgage rates, the stock price of COF shares experienced a hike and closed at a new price mark of 67.60 after a rise of +0.59 price points.
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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