US based mortgage provider, Capital One Financial Corp (NYSE: COF) updated its mortgage information on April 7, 2014, which didn’t showcase any pleasant or unpleasant change as far as the benchmark 30 year fixed mortgage interest rates are concerned. The potential home buyers, who are planning on dropping by the local branches of Capital One in search of ideal home loans, will find no change in the lending rates at which the fixed and flexible home loan plans are being traded today.
Under the new home purchase programs, the bank is currently offering its standard, long term, 30 year fixed rate mortgage home loans are being published against a lending charge of 4.375% and an annual percentage rate of 4.378% today. However, in the short term home loan section, the mortgage shoppers can spot the ideal, 15 year fixed rate mortgage home loans being listed next to an interest rate of 3.500% and an annual return rate of 3.506% this Monday.
The potential home buyers, who are looking forward to finance their big dreams through Capital One bank, can find ideal home loans under the jumbo mortgage division. As of now, the jumbo variants of the popular 30 year fixed rate mortgage home loans can be locked in at an interest rate of 4.375% and an annual percentage yield of 4.376%. On the other hand, the relatively shorter, 15 year jumbo fixed rate mortgage home loans are now up for grabs at an interest price of 3.875% and an annual percentage return of 3.877%.
As far as the adjustable rate mortgage options are considered, the interested borrowers can now spot the ideal 5 year variable rate home loan deals being advertised at a starting interest rate of 3.000% and being backed by an APR yield of 2.839% to begin with. However, the more flexible, 7 year adjustable rate mortgage packages can be locked in at an interest price of 3.375% and an APR yield of 3.041% on the principal amount of home loan secured from the bank.
The mortgage rates quoted by banks are often pressured by the changes in the prices of mortgage backed bonds and securities traded in the financial market, which often move in the direction of stock markets on any normal trading day. As the Wall Street plummeted towards the end of the day, leaving the DJIA index behind at 15337.70, the bank moved in the same direction and published its lending rates accordingly. However, the stock prices of COF shares gained some ground and closed at 67.60 after a hike of +0.88%.
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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