The month of February has been quite surprising for the potential home buyers and refinancing seekers due to sudden changes in the interest rates at which several mortgage lenders offer their best loan options. At the end of the month, with an aim of pleasing the prospective mortgage shoppers, JP Morgan Chase Bank (NYSE: JPM) published improved benchmark 30 year fixed mortgage interest rates.
As per the new mortgage information released by the bank on February 28, 2014, the standard, long term, 30 year fixed rate mortgage home loans are coming out at an interest price of 4.250% and are backed by an annual percentage rate of 4.345%. However, the borrowers, who are looking forward to travel down the shorter route, can opt for the 15 year fixed rate mortgage home loan plans, which are now being traded at an interest rate of 3.375% and an APR yield of 3.575%.
In the adjustable rate financing section, the interested customers can find the ideal 5 year variable rate mortgage home loans quoted at a starting interest rate of 3.125% and an annual return rate of 2.968%. However, the more flexible, 7 year adjustable rate mortgage home loans are now being traded at an interest charge of 3.250% and an APR yield of 3.079% to start with.
When it comes to refinancing home loan deals, Chase Bank is currently offering its popular 30 year fixed rate mortgage packages at an interest rate of 4.375% and an APR yield of 4.503%. On the other hand, the 15 year refinancing fixed rate mortgage home loan plans can be locked in at a lending rate of 3.500% and an APR yield of 3.609% today.
The mortgage shoppers, who are looking forward to enjoy more flexibility in terms of lending rates, can opt for the 5 year refinancing adjustable rate mortgage options, which are currently published at an interest rate of 3.250% in the bank’s books, along with an APR yield of 3.002%. On the contrary, the more flexible, 7 year adjustable rate mortgage home loan schemes are up for grabs at a starting interest price of 3.375% and an APR yield of 3.127% on the initial amount of home loan sanctioned by the bank.
Lately, JP Morgan Chase Bank has been planning on turning the partly vacant US Headquarters of AstraZeneca into its new credit card and loan processing operations center with an estimated budget of $40 million. As per the insiders’, the bank would be moving its workers from the Newark leased office to the new center after its completion.
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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