Today’s Mortgage Interest Rates at Chase Bank (January 9, 2014)
Mortgage shoppers who are looking forward to reach out the loan department of JP Morgan Chase Bank (NYSE: JPM) on January 9, 2014, will find no change in the benchmark 30 year fixed mortgage interest rates. However, the variable interest lending options have moved a bit towards the south in regards to the lending rates, thereby making the respective loan options a little expensive and less interesting for the approaching customers.
The borrowers looking to finance their home purchase with long term deals will find the standard, 30 year fixed rate mortgage home loans, coming out at an interest rate of 4.625% and carrying an annual percentage rate of 4.733% today. The short term, 15 year counterparts of the 30 year fixed rate mortgage loans, are today available against a lending charge of 3.875% and an APR yield of 4.022%.
In the flexible loan department, the bank is offering the best 5 year adjustable rate home loan packages at a higher interest rate of 3.217% and an annual return equivalent to 3.217% during the initial years of the loan. However, the more flexible, 7 year adjustable rate mortgage home loans can be had at an interest rate of 4.000% today and an APR yield of 3.493% to start with.
Shifting heads towards the refinancing section, the customers will certainly find the popular 30 year refinancing fixed rate home loan options at an interest rate of 4.625% and backed by an APR yield of 4.733%. The relatively shorter, 15 year refinancing fixed rate mortgage schemes are now coming out at an interest rate of 3.750% and are accompanied by an APR yield of 3.878%.
When it comes to the adjustable rate mortgage options, the borrowers can find the 5 year refinancing plans trading at an interest rate of 3.500% and carrying an annual return of 3.162%. However, the more flexible, 7 year refinancing adjustable rate mortgages can be acquired at a lending rate of 3.750% and an APR yield of 3.373%.
Mortgage rates quoted by banks move up and down on the basis of price fluctuations experienced by mortgage backed financial securities, which trail the path of stock markets. As expected, the bank moved along the same path as the Wall Street, which declined by -0.73% by the end of the trading day and left the DJIA index hanging at 15337.70. Regardless of mortgage rates, the stock prices of JPM shares increased by +0.69% and closed at 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.