In the exclusive home loan section, the potential home buyers, who are planning on having their expensive home purchase financed through Capital One Bank, can now finding the jumbo versions of 30 year fixed rate mortgage home loans being traded at an interest rate of 4.375% and an annual percentage rate of 4.399%. In the short term lending division, the 15 year counterparts of 30 year jumbo fixed rate mortgage home loans are listed at an interest rate of 3.250% and an annual return rate of 3.899% this Wednesday.
For the mortgage shoppers, who are interested in securing ideal home loans at variable rates of interest, the bank offers 5 year adjustable rate mortgage loans at a starting interest rate of 3.125% and an annual return rate of 2.906% on the principal amount of home loan sanctioned by the bank. The more flexible, 7 year adjustable rate mortgage home loan options are now up for grabs at an interest rate of 3.250% and an annual percentage return of 3.026% during the starting years of the home loan tenure.
The mortgage interest rates quoted by banks normally move up and down on the basis of regular fluctuations in the prices of mortgage backed bonds and securities, which are known to tail the movements of the stock market on any normal trading day. As the stock market waned towards the end of the trading day and left the DJIA index at 15337.70, Capital One Financial took the lead and followed the movement of stock market to publish its mortgage interest rates. Irrespective of the mortgage interest rates, the stock price of COF shares reached a new price mark of 67.60 after a hike of +0.59.
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