Capital One Publishes Higher Mortgage Interest Rates on March 19, 2014

Defying the usual market movement, the US based mortgage provider, Capital One Financial Corp (NYSE: COF) quoted increased benchmark 30 year fixed mortgage interest rates on March 19, 2014. The interested home loan seekers will find the ideal fixed and flexible rate home loans being traded at higher interest rates this Wednesday, which will certainly affect the demand of bank’s loan products in the market.

As per the most up to date mortgage information made available to the customers, the standard, long term, 30 year fixed rate mortgage loans are being tagged with an interest price of 4.375% and are carrying an annual percentage rate of 4.378% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loan deals are coming out at an interest rate of 3.375% and are backed by an APR yield of 3.381%.

The potential home buyers, who are planning on making an expensive investment in a new home and are looking forward to have it financed from Capital One bank, can opt for the jumbo versions of the 30 year fixed rate mortgage home loans, which are now listed against an interest charge of 4.375% and are offering an APR yield of 4.376%. On the other hand, the seekers of relatively shorter, 15 year jumbo fixed rate home loans will have to deal with an interest price of 3.750% and agree to an APR yield of 3.752%.

As far as the flexible home loan deals are concerned, the interested customers can spot the best 5 year adjustable rate mortgage home loan plans being advertised at a starting interest rate of 2.875% and an APR yield of 2.796% to start with. However, the more flexible, 7 year adjustable rate mortgage loans are now coming out at a lending rate of 3.250% and an APR yield of 2.983% on the basic amount of home loan secured from the bank.

The mortgage interest rates quoted by the banks tend to move upwards and downwards on the basis of the changes in the prices of mortgage backed financial bonds and securities, which are known to move in the direction of stock markets. As the stock market lost its ground by the end of the trading day and the left DJIA index at 15337.70, Capital One moved along the same direction for quoting its interest rates. Irrespective of the lending rates, the stock price of COF shares increased by +0.88% and touched a new price mark of 67.60. 

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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About the author

Rob is a analyst and reporter covering stocks and business news.