As another trading week is coming to its end, the popular US based mortgage lender, Capital One Financial Corp (NYSE: COF), decided to make no change to its benchmark 30 year fixed mortgage interest rates on July 10, 2014. The mortgage shoppers, who are willing to fund their realty investment from Capital One today, can spot the ideal fixed as well as flexible mortgage deals being traded at the same interest rate as yesterday.
As far as the adjustable rate mortgage options are concerned, the interested customers can spot the best 5 year variable rate home loan deals being listed against a lending price of 3.125% and being backed by an annual return rate of 2.906% during the starting years of the home loan period. The more flexible, 7 year adjustable rate mortgage deals can now be locked in at an interest rate of 3.250% and an annual return rate of 3.006% on the principal amount of loan taken from the bank.
The mortgage rates published by banks are normally affected by the change in the prices of mortgage backed bonds and securities traded in the financial market by banks, which are known to follow the stock market movements closely. As the Wall Street plummeted towards the end of the trading day and reduced the DJIA index by -113.35, the bank moved along the same path for quoting its mortgage rates. Irrespective of the mortgage rates, the stock price of COF shares tasted a hike of +0.59 and reached a new price point of 67.60.
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