Staying on its usual course, the major US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), chose to keep its benchmark 30 year fixed mortgage interest rates unchanged on April 21, 2014. This Monday brought along no pleasant or unpleasant change in the lending rates at which the standard home purchase and refinancing home loan deals are coming out at Chase Bank, which will somehow help the bank taste improvement in terms of steady demand of its loan products in the market.
As of now, in the standard, long term lending section, the mortgage lender is offering its 30 year fixed rate mortgage home loan deals at an interest rate of 4.500% and an annual percentage rate of 4.575%. On the other hand, the borrowers interested in taking the shorter route to finance their dream home can opt for the short term, 15 year, fixed rate mortgage packages, which are now being traded at an interest rate of 3.625% and are backed by an annual return rate of 3.789% today.
As far as the adjustable rate mortgage home loans are considered, Chase Bank is now offering its best, 5 year adjustable rate mortgage plans at an interest rate of 3.625% to start with and an annual return rate of 3.134% this Monday. However, for the seekers of more flexible lending rates, the 7 year adjustable rate mortgage home loan options would be an ideal pick at an interest rate of 3.625% and an annual percentage yield of 3.246% during the starting years of the home loan period.
Heading towards the refinancing lending arena, the mortgage shoppers can spot the popular 30 year fixed rate mortgage home loans being traded at a lending rate of 4.500% and being accompanied by an APR yield of 4.596%. On the other hand, for the borrowers, who find 30 year deals to be quite expensive, the bank provides its best 15 year refinancing fixed rate mortgage packages at a lending price of 3.625% and an APR yield of 3.734% this Monday.
When talking about the flexible home loan options, the best 5 year refinancing deals can be seen listed against an interest rate of 3.250% in the loan portfolio, along with an annual percentage rate of 3.012% on the principal amount of home loan secured from the bank. However, the more flexible, 7 year refinancing adjustable rate mortgage plans can be locked in at an interest rate of 3.500% and an APR yield of 3.176% to begin with.
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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