Moving along a steady line, the benchmark 30 year fixed mortgage interest rates remained steady at the popular US based mortgage lender, Capital One Financial Corp (NYSE: COF) on July 2, 2014. As per the new mortgage information released by the bank this Wednesday, the interested borrowers, who want to fund their realty investments through Capital One, can today find the ideal options coming out at same interest rates as yesterday.
In the variable rate home financing section, the bank currently offers its ideal 5 year adjustable rate mortgage loans at a starting interest rate of 3.000% and an APR yield of 2.872% during the initial years of home loan period. In the more flexible lending division, 7 year adjustable rate mortgage home loans can be seen listed at an interest rate of 3.125% and an APR yield of 2.968% to start with.
The mortgage interest rates published by banks move up and down depending upon the changes in the prices of mortgage backed financial bonds and securities, which are known to move along with the stock market movements on a usual trading day. As the market plummeted by the end of the trading day and left the DJIA index at 15337.70, the bank moved along the same path and quoted its mortgage interest rates. Irrespective of the mortgage rates, the stock price of COF shares tasted a hike of +0.59 and closed at a higher mark of 67.60.
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