This week, for the third day in a row, Capital One Financial Corp (NYSE: COF) has provided a reason to please more potential home buyers to acquire its ideal home loan packages, which are still being traded at unchanged benchmark 30 year fixed mortgage interest rates on March 26, 2014. This Wednesday, both the fixed and flexible home loan deals can be locked in at the same interest rates as yesterday and the day before.
According to the most up to date mortgage data made available by the bank in the market, the standard, long term, 30 year fixed rate mortgage loans are being traded at an interest rate of 4.375% and are carrying an annual percentage rate of 4.378% today. Alternatively, the short term, 15 year alternatives to the 30 year fixed rate mortgage home loans are being advertised at the same interest price of 3.500% and are backed by an APR yield of 3.506% today.
Capital One Financial, through its exclusive lending option, aims at catering to the needs of the potential borrowers with bigger home purchase dreams by offering the best 30 year jumbo fixed rate mortgage home loan plans at an interest rate of 4.375% and an annual return rate of 4.376% this Wednesday. On the other hand, the relatively shorter, 15 year jumbo fixed rate home loan packages are coming out at a lending price of 3.875% and are backed by an APR yield of 3.877%.
For the interested borrowers, who are keen on acquiring ideal home finances at more flexible interest rates, the US based mortgage lender offers its best 5 year adjustable rate mortgage home loan schemes at a starting interest rate of 3.125% and an APR yield of 2.965% to begin with. On the other hand, the more flexible, 7 year adjustable rate mortgage home loan packages can be locked in at an interest rate of 3.375% and an annual percentage yield equivalent to 3.109% on the principal amount of home loan acquired from the bank.
The mortgage interest rates published by the bank are generally affected by the chances in the prices of mortgage backed financial bonds and securities, which are known to move along with the stock market movements on a normal trading day. Today, as the stock markets waned towards the end of the trading day and left the DJIA index at 15337.70, the bank took the lead and moved in the same direction for publishing its mortgage rates. However, the stock prices of COF shares increased by +0.59 and reached a new price point of 67.60.
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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