After driving at a steady pace for the past few days, the benchmark 30 year fixed mortgage interest rates experienced a sudden hike at Capital One Financial (NYSE: COF) this Friday, December 20, 2013. The borrowers visiting Capital One bank today for financing their home investment will have to loosen up their pockets a bit for dealing with higher interest rates.
Having a closer look at the latest mortgage rate sheet disclosed by the mortgage lender, the standard 30 year fixed rate mortgage loans can be seen published at an interest rate of 4.500% and carrying an annual percentage rate of 4.503%. In the short term lending category, the 15 year fixed rate mortgage loans can be acquired at an interest rate of 3.625% and are accompanied by an APR yield of 3.631% today.
For the borrowers who are looking forward to finance the expensive home purchase investment from Capital One Financial, the 30 year jumbo fixed rate mortgage loans would be an ideal pick at an interest charge of 4.750% and an APR yield of 4.751%, which is a bit higher in comparison to the conventional, non-jumbo finances. Alternatively, the short term, 15 year jumbo fixed rate mortgage home loans can be had at a lending cost of 4.000% and an APR yield of 4.002%.
Sometimes, all that the mortgage shoppers want is flexibility when it comes to home loan rates. Capital One Financial caters to the needs of such borrowers by offering its 5 year adjustable rate mortgage home loans at an interest rate of 3.125% and an APR yield of 2.965% today. However, the more flexible, 7 year adjustable rate mortgage deals are now offered against a lending charge of 3.500% and are accompanied by an APR yield of 3.167%.
When it comes to quoting new home purchase and refinancing mortgage interest rates, the banks tend to make changes on the basis of price fluctuations in the mortgage backed financial securities, which generally trail the stock market movements.
However, as the stock markets declined close to the end of the trading session and left the DJIA index stranded at 15337.70, after a downfall of -113.35, Capital One Financial decided to part its ways from the Wall Street movements and publish its mortgage home loan rates independently. Regardless of the mortgage interest rates, the stock prices of the COF shares performed pretty well and increased by +0.59 to touch a new price mark of 67.60 at 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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