This Tuesday, affected by the sudden movements in the market and other economic factors, the popular mortgage lender, Capital One Financial Corp (NYSE: COF), published somewhat changed benchmark 30 year fixed mortgage interest rates. The potential home buyers, who are looking forward to finance their realty investment through Capital One today, will find a steep rise in the lending rates in comparison to the yesterday’s rates.
The seekers of variable home loan options can now opt for the adjustable rate mortgage plans published offered by the lender at impressive interest and annual return rates. As of now, the bank quotes its 5 year adjustable rate mortgage deals at a starting interest rate of 3.000% and an annual percentage rate of 2.872% to start with. The more flexible, 7 year adjustable rate mortgage home loan deals are now published at an interest rate of 3.125% and an APR yield of 2.968% on the initial amount of loan taken from the bank.
The mortgage rates quoted by banks are normally affected by the upward and downward movement experienced by the prices of mortgage backed bonds and securities, which generally follow the stock market movements. Towards the end of the trading day, as the stock market waned and left the DJIA index at 15337.70, the bank moved along the same path and published its interest rates accordingly. Irrespective of the interest rates, the stock price of COF shares reached a new level after a hike of +0.88% and closed at 67.60.
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