JP Morgan Chase Bank (NYSE: JPM), after keeping its mortgage interest rates grounded for over a week, made certain changes to its benchmark 30 year fixed mortgage interest rates on January 10, 2014.
As per the new information published by the US based mortgage lender, the standard, long term, 30 year fixed rate mortgage home loans are coming out at an interest rate of 4.625% and an APR yield of 4.722% this Friday. However, in the short term lending section, the customers can find the 15 year fixed rate mortgage home loan packages being published against a lending charge of 3.875% and an APR yield of 4.022% in the bank’s loan portfolio.
In the adjustable rate financing department, the potential borrowers can find the best 5 year adjustable rate mortgage home loans being traded at an interest price of 3.625% and carrying an APR yield of 3.217%. On the other hand, the more flexible, 7 year adjustable rate home loan plans can now be had at a lending rate of 4.000% and APR yield of 3.493%.
For the seekers of refinancing home loan options, the bank offers its popular 30 year fixed rate mortgage home loans against a lending price of 4.625% and an APR yield of 4.722% today. However, the shorter, 15 year counterparts of the 30 year refinance fixed rate mortgage loans, against an interest cost of 3.750% and an annual return of 3.860%.
As far as the adjustable rate mortgage options are considered, the potential borrowers can find the 5 year refinancing deals trading at an interest rate of 3.500% today and an APR yield of 3.162%. The more flexible, 7 year adjustable rate mortgage home loans can be acquired at a starting interest rate of 3.750% and APR yield of 3.373% today.
Lately, JP Morgan Chase Bank has been considering a business plan for selling its prepaid card business. The Bank, which no longer accepts new prepaid card business, plans on selling the business and continue supporting the existing prepaid cardholders. The current prepaid card business includes services for the government and corporate programs, including the health saving accounts of the US citizens. The bank assures that the existing customers will not be affected by this decision and the potential customers will have to approach a new service provider (the prospective buyer of the prepaid card business).
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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