After registering a steep rise towards the end of the previous week, the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), made no change to the interest rates at which its standard home purchase and refinancing home loan deals are coming out on March 11, 2014. This Tuesday, the interested customers can see the benchmark 30 year fixed mortgage interest rates hanging around the same spot as yesterday, which will certainly help the bank to maintain a steady demand for its loan products in the market.
In the standard, long term home loan section, the bank has listed the 30 year fixed rate mortgage home loans against an interest rate of 4.500% and an APR yield of 4.564% today. However, for the borrowers interested in taking the shorter route, the bank is currently offering its 15 year fixed rate mortgages at a lending rate of 3.625% and an APR yield of 3.789% on the second day of the trading week.
The mortgage shoppers, who are looking forward to secure ideal home loans and enjoy more flexibility in terms of interest rates, the 5 adjustable rate mortgage deals would be an ideal pick at a starting interest rate of 3.375% and an APR yield of 3.056% to begin with. However, the more flexible, 7 year adjustable rate mortgage home loans can be secured at an interest cost of 3.625% and an annual return rate of 3.225% during the starting years of the home loan tenure.
The eligible borrowers, who are looking forward to refinance their existing investments, can opt for the popular 30 year refinancing fixed rate mortgage home loan deals, which are now being traded at an interest rate of 4.500% and are backed by an APR yield of 4.575%. However, the relatively shorter, 15 year refinancing fixed rate home loan plans are now tagged at an interest price of 3.500% and offering an APR yield of 3.646% this Tuesday.
As far as the adjustable rate mortgage home financing options are considered, the 5 year refinancing variable rate home loan deals can be seen coming out at a starting rate of 3.125% today and an APR yield of 2.968%. On the other hand, the more flexible, 7 year adjustable rate mortgage home loan schemes can be locked in at an interest rate of 3.500% and an annual percentage rate of 3.166% on the initial amount of home loan secured from the bank.
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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