Higher Mortgage Interest Rates at Chase Bank on February 21, 2014

Moving along the same lines as the other mortgage providers in the US financial market, JP Morgan Chase Bank (NYSE: JPM) also quoted higher benchmark 30 year fixed mortgage interest rates on February 21, 2014. Towards the end of the week, the potential home buyers and refinance seekers will find the respective home loan deals coming out at higher interest rates at the leading US based mortgage lender.

As of now, the eligible borrowers can acquire the standard, long term, 30 year fixed rate mortgage home loan deals at an interest cost of 4.500% and an annual percentage rate of 4.564% today. However, in the short term mortgage section, the mortgage borrowers can find the best 15 year fixed rate home loan deals being advertised at an interest cost of 3.625% and carrying an annual return rate of 3.789% today.

In the flexible lending division, the interest mortgagors can look out for the best 5 year adjustable rate mortgage home loan offers, which are now coming out at a starting interest rate of 3.375% and an APR yield of 3.056% today. On the other hand, the more flexible, 7 year adjustable rate mortgage packages are being advertised at an interest price of 3.500% and an APR yield of 3.176% today.

Shifting sights to the refinancing home loan department, the mortgage lenders can spot the best 30 year fixed rate mortgage packages being published next to an interest cost of 4.500% and carrying an APR yield of 4.564% today. On the other hand, the relatively shorter, 15 year refinancing fixed rate mortgage plans are being traded at Chase Bank at a lending rate of 3.500% and an APR yield of 3.646%.

Towards the end of the trading week, the interested customers can spot the ideal 5 year refinancing adjustable rate mortgage plans being listed in the bank’s books against a lending charge of 3.125% and an APR yield of 2.968%. However, the more flexible, 7 year refinancing adjustable rate mortgage schemes are coming out at a starting interest rate of 3.375% and an APR yield of 3.117% today.

The mortgage rates published by banks normally go up and down because of the frequent movement in the prices of mortgage backed financial bonds and securities, which generally trail the movement of stock markets. However, as the Wall Street lost its ground towards the end of the trading day and left the DJIA index at 15337.70, the bank did not move along the same path for pricing its loan deals. However, the stock prices of JPM shares experienced a spike of +0.69% and crossed a new price point of 53.66. 

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.