Current Mortgage Interest Rates Update at Chase Bank on May 27, 2014

Current Mortgage Interest Rates Update at Chase Bank on May 27, 2014

Today, at the major New York based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), regardless of the market changes and economic factors, the benchmark 30 year fixed mortgage interest rates remained unchanged. The bank opposed making any alternations to the interest rates, at which, the standard new home purchase and ideal refinancing home loan deals are being traded today.As per the most up to date mortgage information made available by the bank on May 27, 2014, the standard, 30 year long term fixed rate mortgage plans are coming out at an interest rate of 4.125% and an annual percentage rate of 4.219%. In the short term lending section, the 15 year fixed rate mortgage plans are coming out at an interest price of 3.375% and an annual return rate of 3.502% this Tuesday.

For the borrowers interested in variable rates of interest, the bank is currently offering its best 5 year adjustable rate mortgage home loan options at an interest rate of 3.375% and an annual percentage rate of 3.056% today. The more flexible, 7 year adjustable rate mortgage home loan deals are now being advertised at a starting interest rate of 3.500% and carrying an annual percentage rate of 3.176% during the initial years of the home loan tenure.

Heading towards the refinancing mortgage arena, the interested home loan seekers can find the ideal 30 year fixed rate mortgage schemes being listed at an interest rate of 4.250% and being accompanied by an APR yield of 4.302% today. As far as the short term refinancing options are considered, 15 year, refinancing fixed rate mortgage home loan deals are now up for grabs at an interest price of 3.250% and an annual return rate of 3.394%.

When it comes to flexible refinancing home loan packages, the interested customers can find the best 5 year adjustable rate mortgage deals being traded at a lending rate of 3.125% and an annual percentage rate of 2.958% to start with. In the more flexible home financing section, 7 year refinancing adjustable rate home loan plans are up for grabs at an interest rate of 3.375% and an APR yield of 3.107% on the principal amount of home loan taken from the bank.

The interest rates published by banks are affected by the movement in the prices of mortgage backed securities, which normally trail the stock market movements for deciding their course. As the stock market plummeted by the end of the trading day and the DJIA index reduced to 15337.70, the bank moved along the same path blindly and published its lending rates. However, regardless of the interest rates, the stock price of JPM shares moved up by +0.37 and closed at a new price mark of 53.66.

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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About the author

Rob is a analyst and reporter covering stocks and business news.