For the second day in a row this week, the benchmark 30 year fixed mortgage interest rates at the US based mortgage provider, Capital One Financial Corp (NYSE: COF), remained steady on May 20, 2014. The potential home buyers, who are planning on visiting the local branches of Capital One bank in search of ideal fixed and flexible home loan deals, will find no change in the lending rates this Tuesday.
To start with the long term financing options, the bank is offering its standard, long term, 30 year fixed rate mortgage loans at an unchanged interest rate of 4.125% and an annual percentage rate of 4.128% today. In the relatively shorter lending section, 15 year fixed rate mortgage home loan plans are now coming out at an interest rate of 3.250% and are carrying an annual percentage yield of 3.256%.
The mortgage shoppers, who are plan on obtaining financial assistance from Capital One bank to deal with their expensive realty investment, can opt for the jumbo versions of the popular 30 year fixed rate mortgage deals, which are now up for grabs at an interest rate of 4.125% and are backed by an APR yield of 4.126%. The shorter, 15 year jumbo fixed rate mortgage home loans are now available at an interest price of 3.625% and are yield an annual return equivalent to3.627% this Tuesday.
In the flexible home loan division, the mortgage lender is offering its best 5 year adjustable rate mortgage home loans are at an interest price of 3.000% and an annual percentage return of 2.839% during the starting years of the home loan period. In the more flexible home loan section, 7 year adjustable rate home loans are now coming out at a starting interest rate of 3.250% and an APR yield of 2.983% on the principal amount of home loan taken from the bank.
The mortgage interest rates quoted by banks are normally affected by the upward or downward movements in the price of mortgage backed financial bonds and securities traded by banks in the financial market, which are known to follow the stock market movements closely. As the financial markets waned by -0.73%, leaving the DJIA index at 15337.70 towards the end of the trading day, Capital One Financial moved along the same path blindly and quoted its lending rates. However, irrespective of the interest rates, the stock price of BBT shares experienced a rise of +0.88% and reached a new price point of 67.60.
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