This Tuesday, the benchmark 30 year fixed mortgage rates at JP Morgan Chase Bank (NYSE: JPM) are hanging around the same spot as yesterday. The potential home buyers will find the standard and refinancing home loans trading at the same lending rates today, thereby no affected the overall demand of JP Morgan’s loan products in the market.
As of now, the potential buyers looking for standard, long term home loans will have to loosen up their pockets for an interest cost equivalent to 4.500% and an APR yield of 4.575% for acquiring the popular 30 year fixed rate mortgage loans. However, the short term, 15 year counterparts of the 30 year fixed rate mortgage home loan packages are being traded at an interest price of 3.750% and are carrying an annual percentage rate of 3.897% today.
In the flexible lending section, the borrowers can spot the ideal 5 year adjustable rate mortgage home loan packages sitting next to an interest rate of 3.500% and an APR yield of 3.172% to start with. However, the more flexible, 7 year adjustable rate mortgage plans can be had at a starting interest rate of 3.750% and an APR yield of 3.373% during the initial years of the loan.
Heading towards the refinancing division, the bank is currently offering its popular 30 year fixed rate mortgage home loan schemes at an interest rate of 4.500% and an annual return rate of 4.618% today. Alternatively, the shorter, 15 year refinancing fixed rate mortgage deals can be locked in at an interest rate of 3.625% and an APR yield of 3.162% today.
When it comes to the adjustable rate mortgage loan options, the interested customers can find the best 5 year refinancing home loan deals coming out at an interest rate of 3.500% and carrying an APR yield of 3.162%. On the other hand, the more flexible, 7 year adjustable rate mortgage deals can be acquired by dealing with a starting interest rate of 3.750% and an APR yield of 3.353% today.
The mortgage interest rates published by banks often go up and down on the basis of price fluctuations experienced by the mortgage backed financial bonds and securities, which track the movements of the stock market on any normal trading day. As the stock market lost its ground by -113.35 and left the DJIA index stranded at 15337.70, the bank moved along the same path for publishing its mortgage rates. However, the stock prices of JPM shares gained some ground and headed up to touch a new price mark 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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