JP Morgan Chase Bank (NYSE: JPM) is a reliable and reputed financial institution in the country which offers high end home mortgage schemes at affordable rates. On Tuesday, August 19, 2014 they decided not to make any prominent changes in the rates of interest of their benchmark home mortgage schemes. The probable home mortgage shoppers who were willing to purchase a mortgage scheme at JP Morgan Chase Bank might have to wait a bit if they are looking for better interest rates.
The benchmark fixed rate mortgage schemes have been listed at 4.250% at JP Morgan Chase Bank (NYSE: JPM). These schemes did carry an annual percentage rate of 4.334% which is quite decent by all means. People looking for short term fixed rate mortgage schemes can opt for 15 year FRMs. The 15 year FRMs can be had at an interest rate of 3.500% yielding a starting APR of 3.627% on Tuesday, August 19, 2014.
The adjustable rate mortgage options are more flexible plans that can help the potential home loan shopper to finance his dream project easily. The 5 year variants of the ARMs at Chase Bank can be acquired at 3.625% interest rate carrying an annual percentage rate of 3.134%. The 7 year adjustable rate mortgage schemes are listed at 3.625% presently with an annual percentage rate of 3.225%. There were no major changes in the rates of ARMs at Chase Bank.
The 30 year refinancing loans have been put up for sale at an interest rate of 4.125% at JP Morgan Chase Bank yielding an annual percentage rate of 4.230% on Tuesday. The short term 15 year refinance fixed rate mortgage interest rates are being provided for 3.375% at the bank yielding a starting APR of 3.502%. The 5 adjustable rate mortgage schemes at JP Morgan Chase Bank have been listed at an interest rate of 3.125%. These schemes did yield an APR of 2.948%. The 7 year refinance adjustable rate mortgage schemes are being provided for 3.250% and an annual percentage rate of 3.069%.
Matthew Biben, the JP Morgan Chase Bank retail-banking general counsel has left the institution just 3 years after joining. The community and consumer banking counsel, Biben did resign from the bank in the month of June. He was replaced by the worldwide head of acting and litigation consumer general counsel Jill Centella. The bank’s decision has certainly received positive accolades from several experts.
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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