Straying away from its usual path, Capital One Financial Corp (NYSE: COF), made some unpleasant changes to its benchmark 30 year fixed mortgage interest rates on July 4, 2014. The qualified borrowers, who are planning on visiting the local branches of Capital One bank today, will find the ideal home purchase loans being traded at little hiked fixed as well as flexible lending rates as compared to yesterday.
When it comes to flexible home financing deals, the interested borrowers can find the best 5 year adjustable rate mortgage home loan packages being traded at a lending rate of 3.125% and backed by an annual return rate of 2.916% today. The more flexible, 7 year adjustable rate mortgage home loan deals are now up for grabs at a starting interest rate of 3.250% and an annual percentage yield of 3.026% on the principal amount of home loan secured from the bank.
The mortgage interest rates published by banks are normally affected by the upward and downward movement in price of mortgage backed bonds and securities, which are known to follow the stock market movements closely. As the Wall Street plummeted towards the end of the trading day, leaving the DJIA index behind at 15337.70, Capital One Financial took the lead and moved in the same direction to quote its mortgage interest rates. However, regardless of the lending rates, the stock prices of COF shares increased by +0.88% and closed at 67.60 this Friday.
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