At the end of the first Quarter, though financial market is experiencing its share of ups and downs, the mortgage customers are somewhat safe from the unvarying fluctuations in the interest rates every now and then. Today, the US based mortgage lender, Capital One Financial Corp (NYSE: COF) chose to move with the flow and published unchanged benchmark 30 year fixed mortgage interest rates for the customers interested in financing their new home purchase through ideal home loan deals.
According to the new mortgage information released by the bank on April 17, 2014, the standard, long term, 30 year fixed rate mortgage home loans can be found listed at an interest rate of 4.250% and carrying an annual percentage rate of 4.253%. On the other hand, the borrowers, who find 30 year deals to be quite expensive, can opt for the relatively shorter and cheaper 15 year fixed rate mortgage home loan deals, which are now up for grabs at an interest price of 3.500% and are backed by an APR yield of 3.506% today.
The potential home buyers, who are planning on financing their expensive home investment through Capital One bank, can go for the jumbo versions of its popular 30 year fixed rate mortgage home loans, which are now published in the loan portfolio against a lending charge of 4.250% and an annual return rate of 4.251%. Alternatively, the shorter, 15 year counterparts of the 30 year jumbo fixed rate home loan packages are now tagged by an interest price of 3.750% and are offering an annual percentage yield of 3.752%.
As far as the flexible lending options are considered, the interested borrowers can spot the best 5 year adjustable rate mortgage deals being traded at an interest rate of 3.000% and carrying an APR yield of 2.839% during the initial years of the home loan tenure. Alternatively, the more flexible, 7 year adjustable rate mortgage loans can now be locked in at an interest rate of 3.250% and an APR yield of 2.983% on the principal amount of home loan secured from the bank.
The mortgage rates published by banks are influenced by changes in the prices of mortgage related financial securities, which normally tail the stock market sentiments. As expected, Capital One did not defy the stock market’s movement, and with a reduction of -0.73% in the DJIA index, it quoted its mortgage interest rates accordingly. Regardless of mortgage rates, the stock price of COF shares rose by +0.59 price points and touched a new mark of 67.60 today.
For comments and suggestions, leave a message in the comments section below. Like and Follow our Facebook page for more stories and to stay up-to-date with the latest happenings.