Capital One Quotes Higher Mortgage Interest Rates on March 7, 2014

Capital One Quotes Higher Mortgage Interest Rates on March 7 2014As a tradition, almost every major mortgage lender in the US resort to increasing their home loan rates at the end of a trading week. Following the same approach, Capital One Financial Corp (NYSE: COF) did quote higher lending rates on March 7, 2014. This Friday, the eligible home loan borrowers will find the ideal fixed and flexible home loan deals coming out at hiked interest rates, which is surely ought to affect the overall demand of Capital One’s loan products in the market.

According to the latest mortgage data published by the bank this Friday, the standard, long term, 30 year fixed rate mortgage home loans can be acquired by bearing a higher interest rate of 4.375% and an annual percentage yield of 4.378%. On the other hand, the short term, 15 year fixed rate mortgage home loans can be locked in at an interest rate of 3.375% and an APR yield of 3.381% today.

For the mortgage shoppers, who are seeking ideal financial help for dealing with their expensive realty investments, the bank is currently offering the jumbo versions of its popular 30 year fixed rate mortgage home loan plans at an interest price of 4.375% and an APR yield of 4.376%. Alternatively, the shorter and the less expensive, 15 year jumbo fixed rate mortgage home loan packages can be had at an interest cost of 3.875% and an annual return rate of 3.877% today.

Shifting sights towards the flexible home loan division, the potential home buyers, who are interested in acquiring ideal home loans at variable rates of interests, can opt for the adjustable rate mortgage deals, which are now offered by the bank at slightly higher interest rates. This Friday, the best 5 year adjustable rate mortgage loans are up for grabs at an interest rate of 3.000% and an annual percentage rate of 2.839% to begin with. On the other hand, the more flexible, the 7 year adjustable rate mortgage home loan options are now coming out at a lending rate of 3.250% and are backed by an APR yield of 2.983% on the initial amount of loan taken from the bank.

Mortgage interest rates quoted by the banks are generally affected by the change in prices of mortgage backed financial bonds and securities, which are known to fluctuate on the basis of current stock market movements. As the Wall Street plummeted by the end of the trading day and left the DJIA index at 15337.70, the bank followed its footsteps and published its mortgage interest rates.  However, the stock price of COF shares touched a new price mark of 67.60 after a hike of +0.88% today. 

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.