After dealing with some bad and some better days, the benchmark 30 year fixed mortgage interest rates at the major US based mortgage provider, JP Morgan Chase Bank (NYSE: JPM), are moving at a steady pace on March 5, 2014. This Wednesday, as per the new mortgage information released by the bank, the standard home purchase and refinancing loans can be had at the same interest rates as yesterday.
In today’s long term home loan section, the American mortgage provider continues to charge the same lending cost of 4.375% and offer an annual percentage yield of 4.503% for its standard 30 year fixed rate mortgage home loan plans today. However, in regards to the short term lending options, the 15 year fixed rate mortgage home loan schemes are coming out at an interest rate of 3.625% and an annual percentage rate of 3.734% today.
As far as the adjustable rate mortgage home loans are considered, the bank is currently providing the 5 year adjustable rate home loans at a starting interest rate of 3.250% and an annual return rate of 3.012% to begin with. For the seekers of more flexible home loan options, the 7 year adjustable rate mortgage deals would be an ideal pick at an interest rate of 3.500% and an APR yield of 3.176%.
Shifting interest towards the refinancing home loan section, Chase Bank is currently advertising its popular 30 year fixed rate mortgage loans at a lending price of 4.500% and an APR yield of 4.553%. The interest rates for the relatively shorter, 15 year refinancing fixed rate mortgage home loans are also holding their ground and are still hanging around 3.500% today, along with an annual percentage yield of 3.609%.
When it comes to the flexible refinancing division, the overall picture remained somewhat same today. As of now, the ideal 5 year refinancing adjustable rate mortgage deals are coming out at a starting interest rate of 3.125% and an annual return of 2.948%. However, the more flexible, 7 year refinancing adjustable rate mortgage home loan packages can be had at an interest rate of 3.375% and an APR yield of 3.117% to start with.
The mortgage rates quoted by the banks fluctuate depending upon the price changes experienced by mortgage backed financial securities, which move along the stock market movements. As the Wall Street lost its ground by the end of the trading day, putting the DJIA index at 15337.70, Chase Bank followed its footsteps for publishing the home loan rates. However, the stock price of JPM shares improved by +0.69% and closed at 53.66 today.
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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