Just like every other mortgage lender operating on the US soil, Capital One Financial Corp (NYSE: COF) did not make any changes to the lending rates at which its standard home purchase and refinancing home loans are published in the portfolio on January 24, 2014. The benchmark 30 year fixed mortgage interest rates didn’t taste any change this Friday, thereby maintaining a steady demand of the standard loan products in the market.
In the standard, long term financing section, the interested customers can find the 30 year fixed rate mortgage home loan deals coming out at an interest rate of 4.375% and an annual percentage rate of 4.375% today. However, in the short term home loan section, the 15 year fixed rate mortgage plans are published against a lending charge of 3.500% and an APR yield equivalent to 3.506%.
The mortgage shoppers who are looking forward to get their expensive home purchase investments financed through Capital One Financial Corp today will have to pay an interest cost of 4.625% and agree to an annual return of 4.626% for acquiring the best 30 year jumbo fixed rate mortgage home loans. On the other hand, the short term, 15 year jumbo FRM home loan packages are coming out at a lending rate of 4.000% and are now carrying an APR yield of 4.002% today.
In the adjustable rate mortgage division, the borrowers interested in variable interest rates can find the 5 year flexible home loans coming out at a starting interest rate of 3.125% and an APR yield of 2.965% today. However, the more flexible, 7 year adjustable rate mortgage home loans are available at an interest rate of 3.500% and are currently carrying an APR yield of 3.167% to begin with.
The mortgage rates listed in the banks’ books are normally affected by the change in prices of mortgage backed financial securities, which trail the movement of stock markets on any normal trading day. As the stock market dropped by the end of the trading day and left the DJIA index hanging around 15337.70, Capital One moved along the same path for quoting its interest rates. However, irrespective of the mortgage rates, the stock price of COF shares moved up by +0.88% and closed at a new price level 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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