Capital One Financial has updated its mortgage rates for Monday, September 29. The best rate on a 30-year fixed rate loan today is 4.125% with an APR of 4.178%, while the popular shorter-term 15-year fixed rate mortgage is quoted at 3.500% yielding an APR of 3.592%.
Home buyers who want greater flexibility and a lower mortgage payment can choose a 5/1 adjustable rate mortgage with an interest rate of 3.125% and a corresponding APR of 3.011%. A 7/1 ARM has a higher rate of 3.250% that is locked in for seven years with an APR of 3.097%.
The best rate on a 30-year jumbo loan is quoted at 4.500% with an APR of 4.522%. A 15-year jumbo deal is available with a rate as low as 3.875% yielding an APR of 3.931%. A 5/1 jumbo ARM is quoted at 2.875% for the first five years with an APR of 2.895%, while a 7/1 jumbo ARM is available with a rate of 3.125% for the first seven years with an APR of 3.010%.
Purchase quotes on conforming loans assume a loan of $250,000 with excellent credit and a 40% down payment.
Capital One also offers competitive rates for refinancing. Homeowners can refinance an existing mortgage with no cash out at 4.125% with an APR of 4.196% for a standard 30-year fixed loan, or lock into a 15-year fixed mortgage at 3.500% with an APR of 3.642%. Homeowners who want more flexibility can lock into a 5/1 ARM refinance with an interest rate of 3.250% and an APR of 3.072%, or enjoy greater predictability with a 7/1 ARM at 3.250% with a slightly higher APR of 3.135%.
Homeowners who want to take cash out with a refinance can do so with slightly different rate. A 30-year fixed cash out refinance is available with a rate as low as 4.125% and an APR of 4.178%, while a 15-year cash out refinance is available with an interest rate of 3.500% and an APR of 3.611%.
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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