After staying firm for more than a few days, the benchmark 30 year fixed mortgage interest rates experienced a sudden hike at the top most US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), on June 12, 2014. According to the new mortgage home loan information released by the bank this Thursday, the ideal home purchase and refinancing home loan packages are coming out at increased rates as compared to yesterday.
As per the most recent mortgage information provided by the bank today, the standard, long term, 30 year fixed rate mortgage home loans are now coming out at an interest rate of 4.250% and an annual percentage rate of 4.356%. The borrowers, who are planning on securing short term home loan deals, can opt for the 15 year fixed rate mortgage deals, which are now made available at an interest rate of 3.375% and an annual percentage yield of 3.575% today.
In the adjustable rate mortgage home loan section, Chase bank is publishes its best 5 year variable rate home loan deals at an interest rate of 3.625% and an annual return rate of 3.134% during the initial years of the home loan period. The more flexible, 7 year adjustable rate mortgage home loan deals can now be locked in at an interest rate of 3.625% and an APR yield of 3.246% on the principal amount of home loan secured from the bank.
Heading towards the refinancing lending zone, the home loan seekers can find the popular 30 year fixed rate mortgage home loan options being listed at an interest rate of 4.375% and being backed by an APR yield of 4.439% today. For the potential customers, who are planning on taking the shorter route to refinance their existing investments, the bank offers 15 year fixed rate mortgage schemes at an interest rate of 3.375% and an APR yield of 3.117%.
As far as the adjustable rate mortgage rates are concerned, the best 5 year refinancing home loan deals are being traded at an interest rate of 3.375% and being backed by an annual return rate of 3.006% on the starting amount of loan taken from the bank. The more flexible, 7 year counterparts of the 5 year refinancing adjustable rate home loan packages can now be locked in at an interest rate of 3.375% and an annual percentage yield of 3.104% during the starting years of the home loan tenure.
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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