Mortgage Interest Rates at Capital One Financial on May 13, 2014

Mortgage Interest Rates at Capital One Financial on May 13, 2014

Not defying the market movements, the US based mortgage lender, Capital One Financial Corp (NYSE: COF) decided to quote higher benchmark 30 year fixed mortgage interest rates for the interested home loan seekers on May 13, 2014. This Tuesday brought along an unpleasant surprise for the potential home buyers in terms of increased fixed as well as flexible home loan rates as compared to the yesterday’s figures.According to the newly released mortgage charts by the mortgage provider this Tuesday, the standard, long term, 30 year fixed mortgage home loan plans are coming out at increased interest rates of 4.250% and are carrying an annual percentage rate of 4.253%. For the borrowers interested in securing short term home purchase finances, the bank is now offering 15 year fixed rate mortgage home loan deals at an interest rate of 3.375% and an APR yield of 3.381% today.

For the potential home buyers, who are seeking financial assistance from Capital One Financial for backing their expensive realty investments, jumbo versions of its popular 30 year fixed rate mortgage home loans are coming out at an interest rate of 4.250%, along with an annual return rate of 4.251%, which are higher than the return rate offered by conventional home loans. The relatively shorter, 15 year jumbo fixed rate mortgage home loans can be secured by bearing an interest rate of 3.750% and an annual return rate of 3.381% today.

As far as adjustable rate mortgage home loan deals are considered, the potential home buyers can opt for the best 5 year variable mortgage packages, which are now coming out at an interest rate of 3.000% and are backed by an annual percentage rate of 2.839% to begin with. The mortgage shoppers, who are looking for more flexibility in terms of interest rates, 7 year adjustable rate mortgage home loans would be ideal options at a starting interest rate of 3.375% and are carrying an APR yield of 3.041% during the starting years of the home loan tenure.

The mortgage home loan rates quoted by banks are generally affected by the rise or fall in the prices of mortgage backed financial bonds and securities, which, on a normal trading day, are known to follow the movements of stock market. As the stock market plummeted by the end of the trading day, leaving the DJIA index behind at a lower mark of 15337.70, Capital One Financial took the lead and quoted its interest rates accordingly. Irrespective of the mortgage interest rates, the stock price of COF shares increased by +0.88% and closed at a new price point of 67.60.

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.