Mortgage Interest Rates Remain Steady at Capital One on March 24, 2014

At the beginning of a new trading week, the benchmark 30 year fixed mortgage interest rates are holding steady at the US based mortgage lender, Capital One Financial Corp (NYSE: COF). A closer look at the recently published mortgage data will reveal that the ideal fixed and flexible home loan deals are coming out at the same interest rates on March 24, 2014, thereby helping the bank maintain a steady demand for its loan products in the market.

According to the latest rate charts, the seekers of standard, long term home loan deals will have to bear an interest burden of 4.375% and agree to an annual percentage rate of 4.378% for acquiring the 30 year fixed rate mortgage home loans today. On the other hand, the borrowers, who are keen on taking the shortest route to finance their home purchase, can spot the short term, 15 year fixed rate mortgage home loan deals being published against an interest rate of 3.500% and are backed by an annual return rate of 3.506% today.

For the mortgage shoppers, who are looking forward to finance their expensive home investments through Capital One Financial, the jumbo version of 30 year fixed rate mortgage home loans would be a perfect choice at a lending rate of 4.375% and an APR yield of 4.376%, which is certainly higher than what the conventional home loan packages offer. Alternatively, the 15 year jumbo fixed rate mortgage loan plans can be acquired at an interest price of 3.875% and an annual percentage yield of 3.877% today.

The potential home buyers, who are seeking ideal home loan deals at variable interest rates, can reap the benefits of the perfect 5 year adjustable rate mortgage home loan schemes, which are now published at a starting interest cost of 3.000% and are accompanied by an APR yield of 2.839% during the starting years of the home loan tenure. However, in the more flexible home loan section, the 7 year adjustable rate mortgage loans can be found published against a lending charge of 3.375% and an annual return rate equivalent to 3.041% on the primary amount of home loan sanctioned by the bank.

The mortgage interest rates quoted by banks are normally affected by the upward and downward movement experienced by the prices of mortgage backed financial securities, which, on a normal trading day, move along the stock market movements. As the stock market plummeted towards the end of the trading day, and left the DJIA index at 15337.70, Capital One moved in the same direction and quoted its interest rates accordingly. However, irrespective of the interest rates, the stock price of COF shares increased by +0.88% and closed at a new price point 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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About the author

Rob is a analyst and reporter covering stocks and business news.