Little Change in the Home Loan Rates at Capital One Financial on May 5, 2014

Little Change in the Home Loan Rates at Capital One Financial on May 5, 2014

At the beginning of a new trading week, the benchmark 30 year fixed mortgage interest rates experienced a minor improvement at the US based mortgage lender, Capital One Financial Corp (NYSE: COF). A closer look at the latest mortgage data published by the bank on May 5, 2014, will reveal that the fixed and flexible home loan packages are coming out at somewhat changed interest rates this Monday, making some changes in the overall market demand of COF loan products.The potential home buyers, who are planning on visiting the local branches of Capital One Financial today, will come across a relatively reduced interest rate of 4.125% and an annual percentage rate of 4.128% for acquiring the standard, long term, 30 year fixed rate mortgage loans today. However, in the short term lending section, the popular 15 year fixed rate mortgage home loan plans are now being traded at a lending rate of 3.375% and annual percentage yield of 3.381% this Monday.

For the borrowers, who are seeking ideal finances to back their expensive real estate investments, Capital One Financial offers jumbo variants of its popular 30 year fixed rate mortgage home loans at an interest rate of 4.375% and an annual return rate of 4.375%, which is certainly higher than the yield offered by non-jumbo home loan deals. On the other hand, the 15 year jumbo fixed rate home loans are now up for grabs at an interest price of 3.875% and an annual percentage rate of 3.877% today.

In the flexible home lending section, the mortgage shoppers can find the 5 year adjustable rate mortgage home loan packages published at a lending cost of 3.000% and carrying an APR yield of 2.839% to begin with. On the other hand, the more flexible, 7 year adjustable rate mortgage home loans can be locked in at an interest rate of 3.250% and an annual percentage return of 2.983% this Monday.

The mortgage interest rates quoted by banks are normally affected by the fluctuations in the prices of mortgage backed financial bonds and securities traded by the bank in financial markets, which are known to trail the stock market movement. As the Wall Street plummeted towards the end of the trading day, leaving the DJIA index stranded at 15337.70, Capital One Financial followed the stock market movement for publishing its mortgage rates. Irrespective of the lending rates, the stock prices of COF shares increased by +0.88% and reached a new price point of 67.60.

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.