The top US based mortgage provider, JP Morgan Chase Bank (NYSE: JPM), managed to publish its standard home purchase and refinancing home loan deals at the same interest rates on March 12, 2014. The eligible borrowers, who plan on visiting the local branches of Chase bank in search of ideal home loans, will find no probable change in the benchmark 30 year fixed mortgage interest rates today.
A closer look at the recently published mortgage charts will reveal that the standard, long term, 30 year fixed rate mortgage home loans are being traded at an interest rate of 4.500% and are carrying an annual percentage rate of 4.564% today. Alternatively, the short term, 15 year fixed rate mortgage home loan deals are now published against a lending charge of 3.625% today and are accompanied by an annual return rate of 3.771%.
As far as the flexible lending options are considered, the bank is currently offering its best 5 year adjustable rate mortgage home loan plans a lending price of 3.500% and an APR yield of 3.080% this Wednesday. On the other hand, the home loan seekers who are looking more flexible home loan deals can secure the 7 year adjustable rate mortgage home loans by bearing an interest cost of 3.625% and an APR yield of 3.236% to begin with.
Heading towards the refinancing home loan section, the potential home loan borrowers can find the popular 30 year fixed rate mortgage loans being published against a lending price of 4.500% today and an APR yield of 4.575%. However, the relatively shorter, 15 year counterparts of the 30 year refinancing fixed rate mortgage home loans can be secured at an interest price of 3.500% and an APR yield of 3.627%.
When it comes to the flexible rate home loan deals, the bank is offering its best 5 year refinancing adjustable rate home loan deals at a starting interest rate of 3.250% and an APR yield of 2.992% to start with. However, the more flexible, 7 year refinancing adjustable rate mortgage plans are coming out at an interest rate of 3.500% and an APR yield of 3.176% on the starting amount of home loan acquired from the bank.
The mortgage home loan rates quoted by the banks normally fluctuate depending upon the changes in the prices of mortgage backed financial securities, which follow the stock market movements on a normal trading day. As the financial market lost its ground towards the end of the trading day and left the DJIA index at 15337.70, Chase Bank moved along the same path for publishing its home loan rates. Irrespective of the mortgage rates, the stock price of JPM shares gained some ground and closed at a new price mark of 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.
For comments and suggestions, leave a message in the comments section below. Like and Follow our Facebook page for more stories and to stay up-to-date with the latest happenings.