JP Morgan Chase Bank (NYSE: JPM) chose to make small changes in the benchmark 30 year mortgage loan schemes on August 11, 2014. The standard 30 year mortgage schemes at JP Morgan Chase Bank are today being offered at lower rates and so the potential home loan buyers might flock into their nearest branches for acquiring a reliable mortgage scheme. The reduced interest rate could bring in some positives for the loan buyers in the long run.
The standard 30 year home mortgage schemes by JP Morgan Chase Bank are being traded at an interest rate of 4.250% today and they are yielding an annual percentage rate of 4.356%. Like the interest rate, the APR too came down a little bit since Friday. The probable home loan buyers who feel that the long term loan schemes are a bit expensive can opt for the shorter 15 year mortgage schemes which are available at a rate of interest of 3.500% in addition to an APR of 3.627%.
Talking about the flexible mortgage options, the potential home loan shoppers can simply opt for adjustable rate mortgage plans which are reasonably priced. The 5 year ARMs at JP Morgan Chase Bank stood at 3.500% as on August 11, 2014. The 5 year ARMs do yield an APR of 3.100% which is a bit lower than it was on Friday. The 7 year adjustable rate mortgage schemes on the other hand are available at 3.625% interest rate and an APR of 3.225%.
The JP Morgan Chase bank has recently held several talks with a number of developers about moving their headquarters to the Far West Side or the World Trade Center from Park Avenue area. They are even planning to move a huge number of staff members out of the city. As an essential part of the all-inclusive real estate reshuffling, the fiscal giant has planned to move a big number of employees to Delaware and New Jersey. The trading operations would still be controlled from Manhattan.
The banking institution has also held several talks with the Brookfield Properties regarding their Manhattan West Project and with Vornado Realty Trust regarding their development site near Hotel Pennsylvania. They’ve also recently contacted the WTC developer Larry Silverstein regarding the proposed plan for WTC. It would be really interesting to see how exactly the bank carries out its operations in the upcoming days. The new locations will definitely bring in a little bit of change as far as the banking operations are concerned.
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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