Mortgage Interest Rates Show No Improvement at Capital One on May 21, 2014

Mortgage Interest Rates Show No Improvement at Capital One on May 21, 2014

After dealing with its fair share of ups and downs in the market, Capital One Financial Corp (NYSE: COF), managed to keep its benchmark 30 year fixed mortgage interest rates firm on May 21, 2014. This Wednesday, the interested borrowers will find no change in the fixed as well as flexible home loan deals offered by Chase Bank, which is likely to keep the market demand of COF home loans unchanged today.

As of now, standard, long term, 30 year fixed rate mortgage deals are being traded at an interest rate of 4.125% and are carrying an annual percentage rate of 4.128%. For those, who find 30 years to be a quite long period for home loan debt and are not happy with the long term interest rates, can opt for the 15 year fixed rate mortgage home loan deals, which are being traded at an interest rate of 3.250% and are backed by an APR yield of 3.256% today.

For potential home buyers, who are planning on securing ideal finances to fund their expensive home purchase, Capital One Financial is offering jumbo versions of its popular 30 year fixed rate mortgage loans at an interest rate of 4.125% and an annual return of 4.126%. In the relatively shorter mortgage section, 15 year jumbo fixed rate home loan packages are now traded at a lending rate of 3.625% and an annual percentage rate of 3.627% this Wednesday.

As far as the flexible lending options are considered, the borrowers can opt for the best 5 year adjustable rate mortgage deals, which are now traded at an interest rate of 3.000% and are carrying a starting APR yield of 2.839% for the initial years of the home loan tenure. In the more flexible home loan section, 7 year adjustable rate mortgage loans can be locked in at a lending rate of 3.250% today and an APR yield of 2.983% on the basic amount of home loan secured by the borrowers.

Normally, the interest rates published by banks are influenced by the price changes experienced by mortgage related financial bonds and securities, traded by the banks in financial markets, which are known to follow the stock market movements on any normal trading day. As expected, Capital One did not defy the movement of Wall Street, when it tasted a fall of -0.73% and left the DJIA index stranded at 15337.70, for quoting its interest rates. Irrespective of mortgage rates, the stock price of COF shares increased by +0.59 and reached a new price mark 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.