This Friday brought along an unwanted hike in the benchmark 30 year fixed mortgage interest rates at the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM). The mortgage shoppers, who are planning on securing ideal home purchase loans or refinancing deals from Chase Bank today, will find a sudden upsurge in the lending rates charged by the bank, which is certainly a consequence of the unstable housing market conditions.
A closer look at the latest mortgage data released by the bank on April 18, 2014, will reveal that the standard, long term, 30 year fixed rate mortgage deals are coming out at an interest rate of 4.500% and an annual percentage rate of 4.575%. On the other hand, the short term, 15 year fixed rate mortgage deals can now be secured by dealing with an interest rate of 3.625% and an annual percentage yield of 3.789%.
Heading towards the variable interest lending section, the interested customers can spot the 5 year adjustable rate home loans being traded at a lending rate of 3.625% and being backed by an annual percentage return of 3.134% on the basic amount of home loan sanctioned by the bank. On the other hand, the more flexible, 7 year adjustable rate mortgage home loan packages can be locked in at an interest cost of 3.625% and an annual return rate of 3.246% during the initial years of the home loan tenure.
Shifting sights towards the refinancing arena, the mortgage shoppers can find the best 30 year fixed rate mortgage home loans being listed in bank’s loan portfolio against an interest rate of 4.500% and an APR yield of 4.596% today. Alternatively, for those who are planning on taking the shorter route for refinancing their realty investment, the 15 year fixed rate mortgage loans would be an ideal pick at a lending rate of 3.625% and an APR yield of 3.734%.
When it comes to the adjustable rate mortgage options, the bank is now offering its ideal 5 year refinancing home loan deals at a rate of 3.250% and an annual return rate of 3.012% during the starting years of the home loan period. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage options can be secured at a lending rate of 3.500% and an annual percentage rate of 3.176% on the principal amount of home loan secured from the bank.
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