Summary of Mortgage Interest Rates at Chase Bank on February 13, 2014

After dealing with their fair share of ups and downs, the standard and refinancing home loan rates at the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), are enjoying a steady run on February 13, 2014. Unlike other mortgage lenders, Chase Bank published unchanged benchmark 30 year fixed rate mortgage interest rates this Thursday, thereby helping the bank in enjoying a steady demand for its loan products in the market.

As of now, in the long term home loan section, the interested customers can find the 30 year fixed rate mortgage home loans being advertised at an interest rate of 4.375% and carrying an annual percentage rate of 4.471% today. In the relatively shorter and less expensive home loan section, the potential home buyers can spot the 15 year fixed rate mortgage deals coming out at an interest rate of 3.625% and being backed by an APR yield of 3.753% today.

In the adjustable rate mortgage section, the mortgage shoppers can lock in the ideal 5 year variable rate home loan packages at a starting interest rate of 3.375% and an APR yield of 3.036% to begin with. However, for the seekers of more flexibility, the bank is currently offering the 7 year adjustable rate home loan deals at an interest price of 3.500% and an APR yield of 3.187% for the initial years of the loan.

Shifting sights towards the refinancing home loan department, the eligible borrowers can secure the popular 30 year fixed rate mortgage home loan deals at an interest rate of 4.375% and an APR yield of 4.471% today. However, the shorter, 15 year alternatives of the 30 year refinancing fixed rate home loans can be had at a lending rate of 3.500% and an annual percentage yield of 3.609% today.

When it comes to the flexible home refinancing options, the bank publishes its best 5 year adjustable rate mortgage options against a starting interest price of 3.250% and an APR yield of 2.992% to start with. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage plans can be acquired by bearing an interest cost of 3.500% and agreeing to an APR yield of 3.166% on the initial amount of the loan taken from the bank.

The mortgage interest rates published by banks often go up and down on the basis of price movements experienced by mortgage backed bonds and securities, which are known to move along with the stock markets. As the Wall Street plummeted closer to the end of the trading day and left the DJIA index at 15337.70, Chase bank tracked the movement and moved along the same direction for quoting its mortgage interest rates. Irrespective of the lending rates, the stock price of JPM shares moved up by +0.69% and closed at a new price point 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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About the author

Rob is a analyst and reporter covering stocks and business news.