After enjoying a steady run for the past few days, the standard fixed and flexible home loan rates experienced some minor movements at Capital One Financial (NYSE: COF) on February 4, 2014. This Tuesday brought some minor changes to the benchmark 30 year fixed mortgage interest rates, which won’t affect the overall demand of the bank’s loan products greatly in the market.
According to the latest mortgage data released by the US based mortgage lender, the standard 30 year fixed rate long term mortgage deals can be acquired at an interest rate of 4.250% and an APR yield of 4.253% today. For those who find 30 year deals to be a bit expensive, the bank offers relatively shorter, 15 year fixed rate mortgage home loans at an interest rate of 3.375% and an APR yield of 3.381% today.
In the expensive home financing department, the borrowers, who are interested in having their pricey home investment financed through Capital One Financial, can find the ideal 30 year jumbo fixed rate mortgage deals being traded at an interest charge of 4.250% and an annual return rate of 4.251%, which is certainly higher than the non-jumbo loans available with the bank. However, the short term, 15 year jumbo fixed rate mortgage home loan deals are coming out at an interest rate of 3.750% and are backed by an APR yield of 3.752% today.
For the seekers of home loan options with more variable interest rates, the impressive adjustable rate mortgage loans would serve to be an ideal option. As of now, the bank is offering its best 5 year adjustable rate mortgage home loans at a starting interest rate of 3.000% and an annual return rate of 2.921% on the initial amount of the loan taken from the bank. On the other hand, the more flexible, 7 year adjustable rate mortgage deals can be locked in at a rate of 3.375% and an APR yield of 3.109% for the initial years of the loan.
The interest rates quoted by banks go up and down with the changes experienced by the mortgage backed bonds and securities, which normally trail along with the stock market movements. As the stock market lowered by the end of the trading day, putting the DJIA index down at 15337.70, Capital One moved accordingly for publishing its mortgage interest rates. However, the stock price of COF shares registered an increase of +0.88% and touched a new price mark of 67.60.
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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