JP Morgan Chase bank is a premier bank in the United States of America which deals in various types of fixed rate and adjustable rate mortgage schemes at affordable rates. The bank has been serving several customers who are in search of the perfect mortgage scheme for the purpose of purchasing their own home. JP Morgan Chase bank chose to make no major changes to its benchmark 30 year and 15 year FRMs as on Friday, September 26, 2014.
The 30 year FRMs at the JP Morgan Chase Bank (NYSE:JPM) have been quoted at an interest rate of 4.375% which is quite similar to what it was yesterday. These schemes did yield an annual percentage rate of 4.449% today. The shorter variants of these schemes, the 15 year FRMs at the bank were available for 3.625% rate of interest and an APR of 3.771%.
The bank also deals in flexible rate adjustable rate mortgage options. The 5 year ARMs at the Chase bank were listed at a rate of interest of 4.000% along with an APR of 3.352%. The 7 year ARMs are published for a rate of interest of 3.750% to start with along with an APR of 3.363% which is more or less the same as yesterday. The potential home buyers were also expecting some changes in these schemes in terms of the rates.
Various types of mortgage refinancing options are also offered by the bank which is a great thing in itself. The 30 year refinance FRMs at the bank stood at 4.250% interest rate today carrying an APR of 4.324% to begin with. The 15 year refinance loan deals begin at 3.500% interest rate yielding an annual percentage rate of 3.627%. The 5 year ARM deals are now coming out at a rate of interest of 3.250% along with an APR of 3.094%. The 7 year ARM refinance schemes at the bank were now being offered at 3.375% interest rate with a starting APR of 3.206% as on Friday, September 26, 2014.
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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