Close to the year end, the major players in the US mortgage market are making the best possible attempts to lower the mortgage interest rates, or at least, keep them steady, for the potential home borrowers. In a similar attempt, Capital One Financial (NYSE: COF) made no changes to its benchmark 30 year fixed mortgage rates on December 30, 2013.
A closer look at the newly released mortgage information from the bank can reveal that the standard, long term, 30 year fixed rate mortgage home loan options are still being traded at an interest rate of 4.625% and an APR yield of 4.628% today. Alternatively, the short term counterpart of the 30 year FRM deals, the 15 year fixed rate mortgages can be acquired by paying an interest cost of 3.750% and enjoying an annual percentage return equivalent to 3.756%.
For the borrowers with greater home investment needs, the US based mortgage lender offers high interest jumbo mortgage loans. As of now, the popular, 30 year jumbo fixed rate mortgage home loans are advertised at a rate of 4.875% and carry an APR yield of 4.876%. On the other hand, the short term, 15 year jumbo fixed rate mortgage deals carry a lending charge of 4.125% and yield an annual return of 4.127% today.
In regards to the adjustable loan options, Capital One Financial offers flexible lending options at impressive interest rates today. As of now, the bank publishes its best 5 year deals at a starting interest rate of 3.375% and offers an annual return of 3.052% to start with. For the borrowers interested in more flexibility, the bank provides 7 year adjustable rate mortgage loans at a starting interest rate of 3.750% and an APR yield of 3.285% today.
The new home purchase and refinancing mortgage interest rates published by the banks are often affected by the fluctuations in the prices of mortgage backed bonds and securities traded in the financial market, which follow the stock market movements closely. As the Wall Street waned by the end of the trading day and left the DJIA index stranded at 15337.70, the bank followed it blindly and moved in the same direction. However, the COF shares gained some ground and rose up by +0.88% to touch a new price point of 67.60 by the end of the trading day.
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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