As of now, in the most up to date mortgage information provided by the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), the benchmark 30 year fixed mortgage interest rates are holding firm on May 2, 2014. This Friday, for the customers visiting the home loan departments of the bank today, the ideal home purchase and refinancing mortgage deals are being listed at the same lending rates as yesterday.
Talking about the home loan deals with more flexibility in terms of interest rates, the bank now offers its popular 5 year adjustable rate mortgage home loan options at a starting interest rate of 3.500% and an annual percentage yield of 3.090% during the initial years of the home loan tenure. On the other hand, the more flexible, 7 year adjustable rate mortgage home loan can be locked in at a lending rate of 3.625% and an annual percentage yield of 3.225% today.
Heading towards the refinancing home loan section, the customers will find no absolute change in the lending figures as compared to yesterday. As of now, the popular 30 year refinancing fixed rate mortgage loans are still being traded at an interest rate of 4.375% and an annual percentage yield of 4.471%. Likewise, the short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage home loan packages are also coming out at the same interest cost of 3.500% and are backed by an annual percentage rate of 3.627% today.
As far as the adjustable rate mortgage home loan deals are considered, the 5 year refinancing packages can now be locked in at interest price of 3.250% and an annual return rate of 2.992% to start with. However, for the seekers of more flexible home loan plans, the bank offers its 7 year refinancing adjustable rate mortgage loans at a lending rate of 3.375% and an APR yield of 3.127% on the principal amount of home loan sanctioned by the bank.
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