Chase Bank Released Improved Mortgage Interest Rate Figures on May 20, 2014

Chase Bank Released Improved Mortgage Interest Rate Figures on May 20, 2014

At the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), the benchmark 30 year fixed mortgage interest rates experienced a pleasant improvement on May 20, 2014. Unlike several other mortgage lenders, who chose to keep their lending rates steady today, Chase Bank decided to treat its customers by quoting lower mortgage interest rates for its home purchase and refinancing loans this Tuesday.

Mortgage shoppers, who are planning on approaching the loan department of JP Morgan Chase Bank in search of standard, long term home loans, will find the 30 year fixed rate home loan plans being listed at an interest rate of 4.125% and carrying an annual percentage rate of 4.251% today. In the short term home financing division, the US based lender is offering its best, 15 year fixed rate mortgage home loan schemes at an interest cost of 3.375% and an annual percentage yield equivalent to 3.520% this Tuesday.

In the flexible home loan department, the bank now quotes its best 5 year adjustable rate home loan options at a starting interest rate of 3.375% and an annual return rate of 3.046% during the starting years of the home loan tenure. For the seekers of more flexible interest rates, 7 year adjustable rate mortgage home loans would be an ideal pick at an interest rate of 3.500% and an annual percentage yield of 3.176% on the principal amount of home loan.

With regards to the refinancing mortgage options, the bank’s home loan portfolio lists the popular 30 year fixed rate home loan options at an interest rate of 4.250% and an annual percentage return of 4.313% today. The relatively shorter, 15 year counterparts of the 30 year refinancing fixed rate mortgage schemes are now being traded at an interest rate of 3.250% and are carrying an annual return rate equivalent to 3.431% this Tuesday.

Heading towards the adjustable rate mortgage home loan section, the interested borrowers can find the 5 year refinancing home loan deals being published against an interest rate of 3.125% and carrying an annual return rate of 2.958% on the basic amount of home loan acquired from the bank. In the more flexible refinancing section, 7 year refinancing adjustable rate mortgage options, are now up for grabs at a lending price of 3.375% and an APR yield of 3.107% during the starting years of the home loan period as chosen by the borrowers.

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.