One of the most reputed and experienced banking institutions in the country, JP Morgan Chase Bank (NYSE: JPM), decided to keep the interest rates on its standard fixed rate mortgage schemes steady as on Friday, September 5, 2014. Surprisingly, the bank chose to make no positive or negative changes in the rates. The decision might have disappointed a lot of potential home loan shoppers who were willing to take up a suitable loan for financing their house.
The benchmark 30 year fixed rate mortgage schemes at JP Morgan Chase Bank (NYSE: JPM) are accessible easily at an interest rate of 4.250% yielding a total annual percentage rate of 4.334%. The short term 15 year fixed rate mortgage schemes at the bank stood at 3.500% rate of interest yielding an APR of 3.609%. The interest rates and APR for both 30 year and 15 year schemes remained unchanged today.
The bank even offers flexible ARMs schemes for some buyers who are looking for some flexibility in the mortgage schemes. The 5 year ARMs at JP Morgan Chase Bank stood at an interest rate of 3.875% and the annual percentage rate stood at 3.224% to begin with. The 7 year adjustable rate mortgage options have been listed at 3.625% rate of interest and an APR of 3.246%.
The refinancing rates at JP Morgan Chase Bank are also pretty decent as the bank offers 30 year refinance fixed rate schemes at 4.125% rate of interest along with an APR of 4.230%. The 15 year refinance fixed rate schemes were quoted at 3.250% interest rate today yielding an APR of 3.431%. The 5 year refinance ARMs at Chase Bank started at 3.250% interest rate and an APR of 2.992%. The long term 7 year ARMs for refinancing were listed at 3.375% interest rate and an APR of 3.118% to begin with.
Several weeks after the Chase Bank (NYSE:JPM) explored a huge data breach in its banking systems, the team of investigators have been able to locate some key clues that do support the fact that the hackers who were behind this breach did use a worldwide network of systems that were connected to a big Russian city. They did made use of a hosting web platform known as Bulletproof and this was also reported by the investigators. It does seem that they are really close to the prime suspects of the breach and they will be behind the bars soon.
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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