The benchmark 30 year fixed mortgage interest rates at JP Morgan Chase Bank (NYSE: JPM) taste some improvement on January 23, 2014, after flying high for the past couple of weeks. As per the new mortgage information released by the US based lender, the standard home purchase and the refinancing home loans are coming out at improved rates this Thursday.
Today, the interest home buyers can acquire the standard, long term, 30 year fixed rate mortgage home loan deals at an interest cost of 4.375% and an APR yield of 4.492%. However, for the borrowers who find 30 years to be quite long for a home loan and aren’t satisfied with the higher interest expense, the bank offers its short term, 15 year fixed rate mortgage home loan deals at an interest cost of 3.750% and an APR yield of 3.915% today.
In the adjustable rate mortgage lending division, the borrowers can find the ideal 5 year variable rate home loan deals at an interest rate of 3.500% and an APR yield of 3.183%. However, the more flexible, 7 year adjustable rate mortgage home loan deals are carrying a starting interest rate of 3.750% and an APR yield of 3.373% today.
However, in the refinancing arena, the bank is currently offering its popular 30 year fixed rate mortgage home loan deals at an interest cost of 4.500% and an APR yield of 4.607% today. On the other hand, the relatively shorter, 15 year refinancing fixed rate mortgage home loan products are coming out at an interest rate of 3.625% and are backed by an APR yield of 3.789%.
For the mortgagors looking forward to enjoy more flexibility in terms of interest rates, the bank publishes its 5 year refinancing adjustable rate mortgage home loans at an interest price of 3.500% and an APR yield of 3.172%. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage deals can be locked in at a starting rate of 3.750% and an APR yield of 3.353%.
The mortgage rates published by banks normally go up and down on the basis of price change experienced by mortgage backed securities, which follow the direction of stock market movements. As the stock market lost its ground and left the DJIA index hanging at 15337.70, the mortgage lender took the bait and moved along the same path to quote its home loan rates. However, the stock prices of JPM shares performed well and closed at a new price point of 53.66, after a rise of +0.37.
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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