Chase Bank Keeps its Mortgage Interest Rates Flat on December 17, 2013

Chase Bank Keeps its Mortgage Interest Rates Flat on December 17 2013The customers heading towards the JP Morgan Chase Bank (NYSE: JPM) on December 17, 2013, will find no changes in the benchmark 30 year fixed mortgage interest rates. The US based mortgage lender decided to keep its home loan rates firm this Tuesday, after giving several unpleasant surprises to the potential home buyers last week.

Today, the recently published mortgage charts reveal that the best, long term, 30 year fixed rate mortgages are still advertised at the same interest rate of 4.625% and come along with an annual percentage rate of 4.689%. Likewise, the short term counterpart of the 30 year fixed rate mortgage loans, the 15 year FRM packages are also quoted at an unchanged rate of 3.750% and carry an APR return of 3.934% today.

For the mortgagors who are looking for more flexible interest rates, the lender offers the popular 5 year adjustable rate mortgage home loans at a lending rate equivalent to 3.375% and an APR yield of 3.138%. On the other hand, the more flexible financing options, the 7 year adjustable rate home loans can be had at a starting lending charge of 3.750% today and an APR yield of 3.373% to start with.

Besides the home purchase financing schemes, JP Morgan Chase Bank also advertised its refinancing loans at the same interest rates as yesterday. The borrowers can find the standard 30 year refinancing fixed rate mortgage credits published against a lending charge of 4.625% and carrying an APR yield of 4.689%. Alternatively, the refinancing options with shorter tenure, the 15 year fixed rate mortgages can be had at an interest cost of 3.625%, along with an APR yield of 3.771%.

As far as the adjustable rate mortgages are concerned, the interested borrowers can procure the 5 year refinancing deals at an interest cost of 3.250% and an APR yield of 3.094% to start with. Heading towards the more flexible category, the borrowers can see the 7 year refinancing ARM options published at a rate of 3.625%, which come along with an APR yield of 3.303%.

With JP Morgan Chase Bank in its final stages of making a settlement of $2 billion for their role as Madoff’s primary banker, the US authorities may have a reason to believe that the bank officials had tried to impede the investigation of Bernard Madoff Ponzi scheme case.

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.