Summary of Mortgage Rates at Chase Bank on February 24, 2014

Following an unpleasant hike in the standard and refinancing home loan rates towards the end of the previous trading week, the top US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), made no change in its benchmark 30 year fixed mortgage interest rates on February 24, 2014. However, the best flexible home loan rates did experience a minor change this Monday, small enough to attract the potential home buyers towards Chase Bank for fulfilling their financial needs.

Beginning with the standard, long term offerings published in the loan books of the bank, the prospective home buyers can go for the benchmark 30 year fixed rate mortgage home loans being published next to a lending charge of 4.500% and an APR yield of 4.585% today. On the other hand, for the seekers of short term home financing options, the bank offers its 15 year fixed rate mortgage home loan deals at an interest rate of 3.625% and an APR yield of 3.808% today.

In the flexible home lending division, the interested borrowers can spot the best 5 year adjustable rate mortgage home loans being published against a lending charge of 3.500% and carrying an annual return rate of 3.080% to begin with. However, the more flexible, 7 year adjustable rate mortgage home loan deals can be secured at a starting interest price of 3.500% and an APR yield of 3.197%.  

Heading towards the refinancing division, the potential mortgagors can spot the popular 30 year fixed rate mortgage loans coming out at an interest price of 4.500% and being accompanied by an APR yield of 4.585% today. Alternatively, the short term, 15 year counterpart of the 30 year refinancing fixed rate mortgage deals are being published next to an interest cost of 3.500% and an APR yield of 3.664% this Monday.

The seekers of variable interest home loans can opt for the popular 5 year refinancing adjustable rate home loan packages, which are now being traded at a starting interest rate of 3.250% and an APR yield of 2.992% today. The more flexible, 7 year refinancing variable interest home loan plans are up for grabs at an interest rate of 3.375% and come along with an annual return rate of 3.127% during the starting years of the loan tenure.

Mortgage rates quoted by banks are often affected by the change in prices of mortgage backed financial bonds and securities, which tail the movement of stock markets. As the stock market lost its ground towards the end of the trading day and the DJIA index was left stranded at 15337.70, bank moved in the same direction for publishing its mortgage rates. However, the stock price of JPM shares improved by +0.37 and reached 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.