Sticking to its regular pricing policy, the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM) decided to make no changes to the benchmark 30 year fixed mortgage interest rates on April 17, 2014. This Thursday, the eligible home loan seekers will find no absolute change in the lending rates at which the ideal home purchase and refinancing deals are being traded by the bank.
As of now, the potential home buyers can find the standard, long term, 30 year fixed rate mortgage home loan deals being available at an interest rate of 4.375% and being backed by an annual percentage rate of 4.471% today. On the other hand, in the short term home loan section, the interested customers can spot the 15 year fixed rate mortgage deals coming out at an interest rate of 3.625% and being backed by an annual return rate of 3.734% today.
As far as the flexible home financing deals are concerned, the bank attempts to cater to the borrowers’ needs by offering the 5 year adjustable rate mortgage home loans at a starting lending rate of 3.500% and an APR yield of 3.090% on the principal amount of home loan secured by the borrowers. However, for the seekers of more flexible interest rates, the 7 year adjustable rate mortgage plans would be a perfect choice at an interest rate of 3.500% and an APR yield of 3.197% during the starting years of the home loan period.
In the refinancing arena, the bank is now offering its popular 30 year fixed rate mortgage home loans at an interest rate of 4.500% and an annual percentage return of 4.564% today. On the other hand, for the borrowers, who are planning on heading down the shorter home refinancing route, the bank is publishing its 15 year refinancing fixed rate mortgage home loans in its loan books against a lending charge of 3.500% and carrying an annual return rate of 3.646% today.
When it comes to the adjustable rate mortgage section, the bank currently offers its 5 year refinancing home loans at a starting rate of 3.250% and an annual yield of 2.992% on the basic amount of home loan sanctioned by the bank. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage schemes can be locked in at a lending rate of 3.375% and an APR yield of 3.127% during the initial years of the home loan tenure.
For comments and suggestions, leave a message in the comments section below. Like and Follow our Facebook page for more stories and to stay up-to-date with the latest happenings.