At the top US based mortgage lender, JP Morgan Chase Bank (NYSE: JPM), the benchmark 30 year fixed mortgage interest rates are holding firm on February 18, 2014. The eligible borrowers, who are planning on dropping by the local branch of Chase bank for acquiring ideal home loan deals, will find no absolute change in the interest rates of home purchase and refinancing loans coming out of the bank today.
Starting off with the standard, long term offerings of the bank, the potential customers can spot the 30 year fixed rate mortgage home loan deals published in the bank’s books against an interest rate of 4.500% and an annual percentage rate of 4.564% today. The picture was no different in the short term lending section, where, the 15 year fixed rate mortgage home loans are still being advertised at an interest rate of 3.625% and an annual return rate of 3.771% today.
For the seekers of variable interest rates, the bank is currently offering its best 5 year adjustable rate mortgage home loans at an interest rate of 3.375% to begin with, and an annual percentage rate of 3.046% today. On the other hand, the more flexible, 7 year adjustable rate mortgage deals can be locked in at a starting interest rate of 3.500% and an APR yield of 3.176% to start with.
Heading towards the refinancing home loan division, the mortgage shoppers will find no different picture and can spot the popular 30 year fixed rate mortgage home loans sitting at the same interest rate of 4.500% as yesterday and being accompanied by an APR yield of 4.564% today. Alternatively, the relatively shorter, 15 year refinancing fixed rate mortgage home loans can be locked in at an interest rate of 3.500% and an APR yield of 3.627%.
In the adjustable rate mortgage home loan department, the bank is currently offering its 5 year refinancing deals at a starting interest price of 3.125% and an annual return of 2.968% today. The more flexible, 7 year refinancing fixed rate mortgage home loan packages are up for grabs at an interest cost of 3.375% and an APR yield of 3.117% today.
The interest rates quoted by banks go up and down depending upon the rates of mortgage backed financial securities, which generally tail the movement of the stock markets. As the stock market plummeted towards the end of the trading day, putting the DJIA index at 15337.70 after a fall of -113.35, Chase Bank followed its footsteps to quote its mortgage interest rates today. The stock price of JPM shares rose up by +0.69% and reached a new price level 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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