After remaining flat for the past week and a few days past that, the standard home purchase and refinancing home loans at JP Morgan Chase Bank (NYSE: JPM) registered a pleasant movement in the respective lending rates on February 4, 2014. The benchmark 30 year fixed mortgage interest rates are looking better this Tuesday, which might have a positive impact on the overall demand of the bank’s loan products in the market.
As of now, the standard, long term, 30 year fixed rate mortgage home loans, are coming out at an interest rate of 4.250% and are carrying an annual percentage rate of 4.345% today. However, for the admirers of short term home loans, the bank publishes the best, 15 year fixed rate mortgage home loans at a rate of 3.625% in its loan portfolio, along with an annual return rate of 3.734% today.
For the seekers of flexible home financing options, the bank is currently offering its popular 5 year adjustable rate mortgage home loan deals at a starting interest rate of 3.375% and an annual percentage return rate of 3.128% to begin with. On the other hand, the bank offers its more flexible, 7 year adjustable rate mortgage home loan deals at an interest rate of 3.500% and an APR yield of 3.244% on the initial amount of the loan taken from the bank.
In the refinancing arena, the interested borrowers can find the popular 30 year fixed rate mortgage home loan deals coming out at an interest rate of 4.250% and being backed by an annual percentage yield of 4.345% today. However, the short term, 15 year counterparts of the 30 year refinancing fixed rate home loan packages can be locked in at an interest cost of 3.3755 and an APR yield of 3.557% today.
As far as the adjustable rate mortgage home loans are concerned, the bank is offering its ideal 5 year refinancing deals at a starting interest rate of 3.125% and an annual percentage rate of 3.050% during the initial years of the home loan. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage deals can be locked in at a rate 3.375% and an APR yield of 3.175% today.
The lending rates published by banks often move up and down depending upon the change in the prices of mortgage backed securities, which often travel along with the stock markets. Close to the end of the trading day, as the stock market waned and left the DJIA index wandering around 15337.70, JP Morgan Chase Bank moved along the same path to quote its mortgage interest rates. Regardless of the interest rates, the stock price of JPM shares moved up by +0.37 and closed at 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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