Mortgage Interest Rates Remain Steady at Capital One on March 6, 2014

In the second half of the trading week, the benchmark 30 year fixed mortgage home loan rates continue to hold on to their current standing at Capital One Financial (NYSE: COF). As per the new mortgage information released by the bank on March 7, 2014, the fixed as well as flexible home loan deals are still being traded at the same interest rates as yesterday.

At present, the standard, long term, 30 year fixed rate mortgage home loan deals can be locked in by the eligible borrowers at an interest rate of 4.250% and an annual percentage rate of 4.253%. On the other hand, for the mortgagors, who are keen on taking the shorter route for financing their home purchase, the bank offers its 15 year fixed rate mortgage home loan packages at an interest price of 3.375% and an annual percentage yield of 3.381% today.

Sometimes, the borrowers find it difficult to have their expensive home purchase financed through conventional home loan packages. For dealing with the needs of borrowers with bigger dreams, the bank offers jumbo versions of the 30 year fixed rate mortgage home loan deals at an interest price of 4.250% and an annual return rate of 4.251% today. However, the relatively shorter, 15 year jumbo fixed rate mortgage home loan deals are coming out at an interest rate of 3.750% and an APR yield of 3.752%.

As far as the flexible lending options are concerned, BB&T is offering the 5 year adjustable rate mortgage home loans at a starting interest rate of 3.000% and an annual percentage yield of 2.839% to begin with. However, the more flexible, 7 year adjustable rate mortgage plans can be locked in at a lending rate of 3.250% and an APR yield of 2.983% on the initial amount of the loan sanctioned by the bank.

The mortgage interest rates quoted by the bank are generally affected the fluctuations in the rates of mortgage backed bonds and securities traded in the financial markets, which are known to follow the stock market movements closely. As the Wall Street plummeted towards the end of the trading day and left the DJIA index at 15337.70, after a fall of -113.35, Capital One Financial took the lead and moved along in the same direction for quoting its mortgage home loan rates. Regardless of the lending rates, the stock price of COF shares touched a new price mark of 67.60 after a hike of +0.88%. 

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.