Chase Bank Reveals Q3 Report and Mortgage Rates for October 11, 2013

Current Mortgage Rates for 10-11-2013Chase Bank, a subsidiary of JP Morgan Chase & Co. (NYSE: JPM), has listed their home purchase and refinance mortgage rates for today, October 11, 2013. This comes on the same day as their Quarterly Report.

Listed as the biggest US bank by assets, JPMorgan Chase reported a loss this quarter under CEO Jamie Dimon. This loss comes directly after a $7.2 billion litigation and regulatory probe costs.

“In this highly charged and unpredictable environment, with escalating demands and penalties from multiple government agencies, we thought it was prudent to significantly strengthen,” Dimon continued, “While we expect our litigation costs should abate and normalise over time, they may continue to be volatile over the next several quarters.”

The third-quarter loss was $380 million, compared with a profit of $5.71 billion a year.

In other news, the mortgage rates were also published today under the assumption of a loan amount of $215,000 and that the “lender has excellent credit” to qualify for the listed rates.

When it comes to the 30 Year Fixed Rate Purchase Loan, borrowers can lock in a rate of 4.250% today. In correspondence, the APR (annual percentage rate) has been published at 4.313% today. The APR experienced a slight dip from yesterday.

The popular 15 Year Fixed Rate Purchase Loan can be had today at 3.375% with an APR sitting at 3.502%, no changes from the day before.

Chase Bank also offers buyers refinancing options. 30 Year Fixed Refinances can be locked in today at 4.375%, with an APR of 4.471%.

Some borrowers may find the 15 Year Refinancing more tailored to their needs, in which case the rate can be picked up at 3.375%, with an APR value of 3.483%.

The adjustable rate mortgage (ARM) loans from Chase Bank offer increased flexibility, which is preferred by many borrowers.

Today the flexible 7/1 ARM for purchases is listed at 3.625% and carried with it an APR of 3.293%.

The 5/1 ARM has an interest rate of 3.000% with a decreased corresponding APR variable of 2.996%.

Borrowers interested in the banks flexible refinancing options may find the 7/1 ARM value enticing at a rate of 3.625%, with an APR sum of 3.314%.

The 5/1 ARM home refinance loan can expect a rate of 3.250% today, while the APR is set at 3.084%.

When compared to yesterday, all refinance APR’s have decreased slightly, with the interest rates staying the same.

Any of the listed rates can change without notice so it is best to see the lender’s website for current purchase and refinance rate, or contact a loan officer directly.

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

L.J is a contributor covering financial mortgage rates. A freelance writer for various online publications with a great interest in real estate investment.