The after effects of the first quarter plunge experienced by the two big mortgage lenders, Wells Fargo and JP Morgan Chase Bank (NYSE: JPM), have started becoming more evident with Chase Bank publishing same benchmark 30 year fixed mortgage interest rates on April 14, 2014. This Monday, the interested home loan borrowers will find no absolute change in the lending rates at which the new home purchase and refinancing deals are coming out of the bank.
A closer look at the recently released mortgage rate charts will reveal that the standard, long term, 30 year fixed rate mortgage home loan plans are still being traded at the same interest rate of 4.375% and carrying an annual percentage rate of 4.439% today. However, in the short term home loan section, the interested customers can spot the 15 year fixed rate mortgage home loan packages being traded at an interest price of 3.500% and an APR yield of 3.646%.In the variable rate financing department, the potential home buyers can find the best 5 year adjustable rate mortgage home loan packages being traded at an interest cost of 3.375% and carrying an annual return rate of 3.036% on the principal amount of home loan secured from the bank. On the other hand, the more flexible, 7 year adjustable rate home loan deals can be locked in at an interest rate of 3.500% and APR yield of 3.176% during the starting years of the loan tenure.For the borrowers, who are planning on refinancing their existing home investments, the bank is currently offering its popular 30 year fixed rate mortgage home loans at a lending price of 4.375% and an APR yield of 4.460% this Monday. Alternatively, the short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage home loan offerings are up for grabs at an interest cost of 3.375% and an annual return equivalent to 3.575%.
As far as the adjustable rate mortgage deals are concerned, the mortgage shoppers can find the 5 year refinancing home loans being traded at a starting interest rate of 3.125% and being backed by an APR yield of 2.948% during the starting years of the loan period. On the other hand, the more flexible, 7 year adjustable rate mortgage loan options can be secured at an interest rate of 3.375% and APR yield of 3.107% on the initial amount of home loan acquired from the bank.
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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