On August 14, 2014, Thursday, JP Morgan Chase Bank (NYSE: JPM), one of the biggest institutions in the US, didn’t chose to make any alterations in its benchmark 30 year fixed mortgage schemes. The JP Morgan Chase bank 30 year fixed mortgage schemes were available at similar rates as they were yesterday. The annual percentage rate on these mortgage schemes also remained the same and so there wasn’t any positive or negative effect on the sale of the home mortgage schemes. The potential home mortgage buyers who were willing to buy a mortgage scheme from the bank might not find the interest rates to be too enticing today.
The benchmark 30 year home mortgage schemes at Chase bank were available at a rate of interest of 4.250% and an APR of 4.356% which is same as yesterday. The individuals who are looking for short term loans can opt for the 15 year counterparts of the 30 year fixed mortgage schemes. These loans were listed at a rate of interest of 3.500% and an APR of 3.646%. The APR and interest rate on 15 year mortgage schemes too remained unchanged.
There are various flexible home mortgage options such as ARMs which the potential home loan shoppers can opt for. These ARMs are available in both 5 year and 7 year variants. The 5 year adjustable rate mortgage schemes are available at 3.750% interest rate and they do yield an APR of 3.179%. The long term 7 year adjustable rate mortgage options are available at 3.625% and an APR of 3.236%.
All the probable home mortgage buyers can also opt for refinancing mortgage schemes at JP Morgan Chase Bank. The benchmark 30 year refinance schemes are listed at 4.250% yielding an APR of 4.302%. Their short term variants have been published at a rate of interest of 3.375% and an annual percentage rate of 3.538%.
A church in Indianapolis did claim the fact that the JP Morgan Chase Bank mismanaged their trusts by utilizing them to purchase their own investment products. The Christ Church Cathedral has filed an official lawsuit in the federal court of law on Wednesday accusing the bank of mismanagement and fraud. They also claimed the fact that the church did lose millions of dollars over almost a decade due to the investment strategy followed by the bank. The church even accused the bank of breaching and self-dealing its own fiduciary duty by allegedly purchasing its own investment products.
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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