Before moving to rates published by Chase today for their popular Mortgage Loan products, the trending news from the financial market is about the same bank.
According to the report published last week, JP Morgan Chase mortgages are down by 66% this year. The bank also reported a drop in earnings by half a billion dollar during past year.
Back to our main news, Chase continues to offer market competitive mortgage rates for the second day of this week on 22nd July for their benchmark Fixed Mortgage Loans and ARM Mortgage Loans. Following rates are offered by the bank on 22nd July.
Fixed Rate Loans:
Conventional Fixed Mortgage Loans : Chase 22nd July
30 Year Fixed : 4.125% Interest Rate 4.209% APR
15 Year Fixed : 3.250% Interest Rate 3.431% APR
For 30 Years Fixed Rate Mortgage Rate, the bank also offers discount points of 1.000. For the today’s offered rate, the borrower can pay $1,402 as a monthly installment for first 359 months and a last installment of $1,309.77 for the 360th month for a Loan amount of $215,000. Similarly, discount points of 1.250 are offered today for 15 Years Fixed Rate Mortgage Loan. If locked at the current rate, borrowers can pay a monthly installment of $1,501.74 for first 179 months and $1,510.22 for the 180th, i.e. last month for the total loan amount of $215,000.
Adjustable Rate Loans:
Rates published by Chase on 22nd July for their second popular product, Adjustable Rate Mortgage Loans remained same as the yesterday’s rates for both interest rate and APR. Details for the 22nd July rates are as follows:
Adjustable Rate Mortgage Loans : Sun Trust 22nd July
5/1 LIBOR ARM : 3.250% Interest Rate 2.992% APR
7/1 LIBOR ARM : 3.375% Interest Rate 3.107% APR
For the 7/1 LIBOR ARM Mortgage Loan, the bank offered discount points of 0.875 while for the 5/1 LIBOR ARM Mortgage Loan, same discount points of 0.875 are offered.
Chase also offers additional features on the above mentioned rates like mortgage rate lock period of 60 days, 20% down payment and one mortgage loan approval for single family residence.
* The rates mentioned in the article are for the amount of loan of $200,000 to $249,999 and for the purchase loan only.
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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