Daily Mortgage Rates Summary of Chase Bank on March 3, 2014

The mortgage shoppers, who are planning on approaching the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), will find the standard home purchase and refinancing home loan deals coming out at unchanged interest rates on March 3, 2014. With the aim of improving the overall demand of its loan products, Chase bank made no change to its benchmark 30 year fixed mortgage interest rates this Monday.

As of now, the mortgage shoppers, who are looking forward to have their home purchase financed through long term deals, can find the standard, 30 year fixed rate mortgage home loan plans coming out at an interest price of 4.375% and an annual percentage rate of 4.471% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loans are today available at a lending price of 3.500% and an APR yield of 3.682%.

When it comes to the flexible home loan division, the interested customers can find the best 5 year adjustable rate home loan deals coming out at an interest rate of 3.375% and carrying an annual return of 3.046% to start with. However, the more flexible, 7 year adjustable rate mortgage home loan packages can be locked in at an interest rate of 3.500% and an APR yield of 3.166% during the starting years of the home loan.

Heading towards the refinancing home loan department, the potential home loan borrowers will find the popular 30 year fixed rate home loan schemes being published against an interest rate of 4.375%, along with an
APR yield of 4.481%. However, the somewhat shorter, 15 year refinancing fixed rate mortgage home loan plans are now being traded at an interest rate of 3.375% and are backed by an APR yield of 3.557%.

When it comes to the adjustable rate mortgage deals, the mortgage shoppers can opt for the best 5 year refinancing variable rate home loan plans, which are now being traded at a starting interest rate of 3.125% and an annual return of 2.968%. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage home loans can be locked in at a lending cost of 3.375% and an APR yield of 3.107%.

Mortgage rates published by banks is normally affected by the change in price of mortgage backed bonds and securities, which usually follow the stock market movements. As the stock market waned towards the end of the trading day and left the DJIA index at 15337.70, Chase bank took the lead and published its mortgage rates accordingly. However, the stock price of JPM shares increased by 0.37 and touched a new price point of 53.66 today. 

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.