No Movement in Mortgage Interest Rates at Capital One Financial on April 28, 2014

No Movement in Mortgage Interest Rates at Capital One Financial on April 28, 2014

At the beginning of a new trading week, Capital One Financial Corp (NYSE: COF) decided to stick to its usual pricing policy and publish same benchmark 30 year fixed mortgage interest rates on April 28, 2014. This Monday, the potential home buyers, who plan on financing their realty investments through ideal fixed and flexible home loan deals, will find no change in the basic interest rates charged by the bank in comparison to the last week’s lending rates.

According to the new mortgage charts released by the bank this Monday, the standard, long term, 30 year fixed rate mortgage home loans are being traded at an interest rate of 4.250% and an annual percentage rate of 4.253%. On the other hand, in the short term home loan section, the 15 year fixed rate mortgage home loan deals can be secured at an interest rate of 3.375% and an annual percentage yield of 3.381% today.

For the potential home buyers, who are planning on making a pricey real estate investment and are looking forward to have it financed through Capital One, the jumbo loan versions of the popular 30 year fixed rate mortgage loans would be an ideal pick at an interest rate of 4.250% and an annual return rate of 4.251% today. However, in the short term jumbo home loan section, the borrowers can lock in the 15 year fixed rate mortgage home loans at an interest rate of 3.875%, while enjoying an annual percentage yield of 3.877%.

When it comes to the flexible home loan packages, the adjustable rate mortgage deals published in the portfolio would prove to be an ideal option for the interested borrowers. As of now, the interested borrowers can secure the 5 year adjustable rate mortgage loans at an interest rate of 3.000% and an annual return rate of 2.839% to start with. However, the more flexible, 7 year adjustable rate mortgage loans can be locked in at an interest rate of 3.250% and an APR yield of 2.983% during the starting years of the home loan.

The interest rates quoted by banks always move up and down depending upon the changes experienced by the prices of mortgage backed financial instruments, which are known to follow the direction of stock markets on any normal trading day. As the Wall Street lost its ground by the end of the trading day and the left DJIA index at 15337.70, Capital One moved along the same path blindly and quoted its mortgage interest rates accordingly. However, irrespective of the mortgage rates, the stock price of COF shares increased by +0.88% and reached a higher 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.