Minor Change in the Mortgage Interest Rates at Capital One on April 11, 2014

At the end of the trading week, Capital One Financial Corp (NYSE: COF) decided to offer its fixed and flexible home loan deals at somewhat different interest rates on April 11, 2014. Though the qualified borrowers will not find any change in the benchmark 30 year fixed mortgage interest rates, the short term home loan deals are coming out at somewhat changed lending rates today.

This Friday, the interested home loan borrowers will have to deal with an interest burden of 4.250% and agree to an annual percentage rate of 4.253% for securing the standard, long term, 30 year fixed rate mortgage home loan deals from Capital One Bank. On the other hand, for locking in the relatively shorter, 15 year counterparts of the 30 year fixed rate mortgage loan packages, the mortgage shoppers will have to pay an interest price of 3.375% and agree to enjoy an APR yield equivalent to 3.381% today.

The potential home buyers, who are planning on having their expensive realty investment financed through Capital One bank, can opt for the jumbo versions of 30 year fixed rate mortgage home loan schemes, which are now being advertised at a lending rate of 4.250% and are backed by an APR yield of 4.251% today. However, short term, 15 year jumbo fixed rate home loan plans can be locked in at an interest rate of 3.750% and an annual return rate of 3.752% today.

As far as the adjustable rate mortgage plans concerned, the interested customers can spot the best 5 year variable rate home loans being traded at a flexible interest rate of 2.875% and carrying an APR yield of 2.796% on the principal amount of loan sanctioned by the bank. On the other hand, the more flexible, 7 year adjustable rate mortgage schemes can be secured at an interest cost of 3.250% and an annual return rate of 2.983% during the starting years of the home loan tenure.

The mortgage rates quoted by banks are often affected by the rise and fall in the prices of mortgage backed bonds and financial securities, which are known to follow the stock market movements on any normal trading day. As the Wall Street plummeted by -113.35, leaving the DJIA index at 15337.70, Capital One took the lead and moved along the same path blindly for publishing its interest rates. However, irrespective of the rates, stock price of COF shares hiked by +0.59 and reached a new mark of 67.60 by the end of the trading day.

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.