Choosing to follow the footsteps of several other mortgage lenders, the topmost US based financier, JP Morgan Chase Bank (NYSE: JPM), decided to make no change to its benchmark 30 year fixed mortgage interest rates on September 8, 2014. A closer look at the most recent mortgage data provided by the bank will reveal that the ideal home purchase loans as well as refinancing deals are still traded at the same lending rates as yesterday.
Today, the potential home buyers will have to pay an interest price of 4.250% and agree to an annual percentage rate of 4.324% to acquire the standard, long term, 30 year fixed rate mortgage home loans. The borrowers, who are seeking relatively shorter home financing deals, will have to bear an interest price of 3.375% and agree to an annual return rate of 3.575% for securing the 15 year fixed rate mortgage loans this Monday.
As far as flexible lending options are concerned, the interested borrowers can spot the 5 year adjustable rate mortgage home loan deals being traded at a lending cost of 3.750% and an annual percentage return of 3.625% during the starting years of the home loan period. The more flexible, 7 year adjustable rate mortgage options can now be locked in by bearing an interest rate of 3.625% and annual percentage yield of 3.246% the principal amount of home loan acquired from the bank.
Heading towards the refinancing mortgage section, the potential borrowers can now spot the popular 30 year fixed rate mortgage home loans being published next to an interest rate of 4.125% and being backed by an annual percentage yield of 4.219% today. The short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage packages are now up for grabs at an interest rate of 3.375% and an annual return rate of 3.483% today.
For the borrowers, who are planning on securing more flexible home loan deals, the bank currently offers its best, 5 year refinancing adjustable rate mortgage home loans at a starting interest rate of 3.250% and an annual percentage yield of 2.992% during the beginning years of the home loan tenure. The seekers of more variable interest rates can now secure the 7 year adjustable rate home loans by bearing an interest cost of 3.375% and an annual percentage rate of 3.118% on the principal amount of home loan secured 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.
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.