Mortgage Interest Rates at Chase Bank Remain Steady on February 6, 2014

Despite the regular ups and downs faced by the realty market in the present day economy, the US based lender, JP Morgan Chase Bank (NYSE: JPM), managed to publish same interest rates on February 6, 2014. This Thursday, the interested mortgage shoppers will hardly find any change in the figures of benchmark 30 year fixed mortgage interest rates, as compared to the yesterday’s numbers.

Today, in the standard, long term lending division, the customers can find the ideal 30 year fixed rate mortgage home loan deals being traded at an interest rate of 4.375% and being backed by an annual percentage rate equivalent to 4.439%. In the short term lending section, the mortgage provider publishes its popular, 15 year fixed rate mortgage home loan deals against a lending charge of 3.625% and an APR yield of 3.753% today.

When it comes to the flexible lending options, the interested borrowers can spot the best 5 year adjustable rate mortgage home loans coming out of the bank at a starting interest rate of 3.250% and carrying an APR yield of 3.084% today. On the other hand, the more flexible, 7 year adjustable rate mortgage packages are being traded at an interest rate of 3.500% and are accompanied by an APR yield of 3.234% to start with.

In the refinancing arena, the mortgage borrowers can find the popular 30 year fixed rate mortgage deals being advertised at an interest rate of 4.375% and being backed by an APR yield of 4.439% today. However, the relatively shorter, 15 year refinancing fixed rate mortgage packages can be locked in by bearing an interest cost of 3.500% and an APR yield of 3.609%.

As far as the adjustable rate mortgage home loans are considered, the bank is currently providing its 5 year variable rate mortgage deals at an interest rate of 3.125% and an APR yield of 3.040% to start with. However, the 7 year refinancing adjustable rate mortgage schemes can be obtained at an interest rate of 3.375% and an APR yield of 3.195% on the initial amount of the loan taken from the bank.

The mortgage home loan rates published by banks generally fluctuate depending upon the changes experienced by the prices of the mortgage backed securities, which are known to follow the stock market movements. As the stock market went down towards the end of the trading day, and left the DJIA index hanging at 15337.70, the bank blindly followed the footsteps of the market and quoted its interest rates. However, the stock price
of JPM shares increased by +0.69% and reached a new price mark of 53.66.

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.