Moving along the same path, the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), made no change to its benchmark 30 year fixed mortgage interest rates on February 11, 2014. As of now, the eligible borrowers can acquire the ideal home purchase and refinancing loans at the same interest rates as yesterday, without worrying about paying any extra amount towards interest charges.
In the standard, long term home loan division, the interested borrowers can find the standard 30 year fixed rate mortgage home loan packages being traded at an interest rate of 4.3755 and an annual percentage rate of 4.460% today. The short term lending section showcases the 15 year fixed rate mortgage home loans sitting next to an interest rate of 3.625% and an annual return of 3.7345 today.
When it comes to the flexible lending options, the bank provides its ideal 5 year adjustable rate mortgage home loan deals at a starting interest rate of 3.250% and an annual percentage rate of 3.094% to begin with. On the other hand, the more flexible, 7 year adjustable rate home loan deals can be secured at an interest rate of 3.500% today and an annual return of 3.244% on the initial amount of loan taken from the bank.
In the refinancing arena, the potential borrowers can find the best 30 year fixed rate mortgage home loans being advertised at an interest price of 4.375% and an annual return rate of 4.460% today. However, the relatively shorter, 15 year refinancing fixed rate mortgage home loans are tagged with an interest cost of 3.500% and are backed by an APR yield of 3.609%.
For the borrowers, who are looking forward to secure home loans at variable interest rates, the bank offers the best 5 year refinancing adjustable rate mortgage home loans at an interest rate of 3.125% and an APR yield of 3.050% to start with. Alternatively, the more flexible, 7 year refinancing adjustable rate mortgage deals can be locked in at an interest rate of 3.375% and an annual percentage rate of 3.206%, which can be enjoyed during the initial years of the loan.
The mortgage rates published by banks are often affected by the upward and downward movement experienced by the mortgage backed bonds and securities, which generally follow the stock market movements. As the stock market plummeted by the end of the trading day and left the DJIA index at 15337.70, after a fall of -0.73%, the bank took the bait and moved along in the same direction for quoting its lending rates today. However, irrespective of the mortgage rates, the stock price of JPM shares touched new levels after a hike of +0.37 and reached a new price mark of 53.66.
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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