At the beginning of a new trading week, the top US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), decided to keep its benchmark 30 year fixed rate mortgage interest rates unchanged. The latest mortgage data released by the bank on June 16, 2014 revealed that the ideal home purchase loans as well as the refinancing home loan options are coming out at same interest rates as towards the end of the previous week.
To begin with, in the standard, long term, home financing section, the 30 year fixed rate mortgage home loan plans are coming out at an interest rate of 4.250% and an annual percentage rate of 4.366%. The borrowers, who are interested in traveling down the shorter route, can opt for the 15 year fixed rate mortgage home loan schemes, which are traded at an interest rate of 3.375% and an annual percentage return of 3.538% today.
In the adjustable rate financing division, the interested borrowers can find the ideal 5 year variable rate mortgage home loans being listed at a starting interest rate of 3.625% and carrying an annual return rate of 3.145% on the basic amount of home loan sanctioned by Chase Bank. The more flexible, 7 year adjustable rate mortgage home loans are now being advertised at an interest rate of 3.625% and an annual percentage yield of 3.246% during the initial years of the home loan tenure.
Heading towards the refinancing home loan arena, Chase Bank is currently offering its popular 30 year fixed rate mortgage home loan deals at an interest rate of 4.375% and an annual percentage yield of 4.439% this Monday. In the relatively shorter refinancing section, 15 year fixed rate mortgage home loan deals are coming out at a lending rate of 3.375% and are backed by an annual percentage yield of 3.117% today.
The mortgage shoppers, who are planning on locking in more flexible home loan deals, can now opt for the 5 year refinancing adjustable rate mortgage options at an interest rate of 3.375% in the and an annual percentage return of 3.006% during the starting years of the home loan period. The more flexible, 7 year adjustable rate mortgage home loan options can now be locked in at an interest cost of 3.375% and an annual percentage yield of 3.104% on the principal amount of home loan acquired 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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