At the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), the benchmark 30 year fixed mortgage interest rates experienced a decent improvement on April 22, 2014. As per the most up to date mortgage information released by the bank this Tuesday, the standard home purchase and the ideal refinancing home loan deals are now available at slightly improved interest rates as compared to yesterday and the earlier weeks.
For the potential home buyers, who are planning on securing long term finances to back their new home purchase, the standard 30 year fixed rate mortgage loans will be a wise choice at an interest rate of 4.375% and an annual percentage rate of 4.492%. On the contrary, the relatively shorter, 15 year fixed rate mortgage home loan deals can be locked in at an interest rate of 3.625% and an annual percentage yield of 3.753%.
In the category of home loans with variable rates of interest, the mortgage lender is now offering its best 5 year adjustable rate mortgage loans at an interest rate of 3.500% and an APR yield of 3.090% during the initial years of home loan tenure. Alternatively, the more flexible, 7 year adjustable rate mortgage loans can be locked in at an interest rate of 3.625% and an APR yield of 3.225% on the basic amount of home loan taken from the bank.
Heading towards the refinancing arena, the interested customers can spot the popular 30 year fixed rate mortgage loans are now up for grabs at a lending rate of 4.500% and an annual percentage yield of 4.575% on April 22, 2014. However, in the short term lending section, 15 year, refinancing fixed rate mortgage home loan options can be acquired by the borrowers, who are keen on taking the shorter refinancing route, at an interest rate of 3.500% and are backed by an APR yield of 3.664%.
As far as flexible refinancing as considered, the potential home buyers can find the flexible, 5 year refinancing adjustable rate home loans being advertised at a lending rate of 3.250% and an annual percentage rate of 2.992% on the principal amount of home loan taken from the bank. On the contrary, the more flexible, 7 year adjustable rate mortgage home loans are now being traded at a starting interest rate of 3.375% and are backed by an annual return rate of 3.138% during the initial years of the home loan period.
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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