Today’s Mortgage Interest Rates Moved a Little Higher at Chase Bank (January 15, 2014)
JP Morgan Chase Bank (NYSE: JPM) took a different path and made some unpleasant changes to its benchmark 30 year fixed mortgage interest rates on January 15, 2014. The standard home purchase and refinancing home loans are now available at the same interest rates, but the flexible lending rates have ticked up at the largest US bank this Wednesday.
Today, as per the newly released mortgage rate chart by the bank, the standard, long term, 30 year fixed rate mortgage home loans are coming out at an interest rate of 4.500% and an APR yield of 4.618%. However, the short term, 15 year fixed rate mortgage deals can be had at an interest cost of 3.750% and an annual return rate of 3.897% today.
In the flexible lending division, the potential customers can find the best, 5 year adjustable rate mortgage home loans being traded at a higher interest rate of 3.500% and carrying an APR yield of 3.172% to start with. However, the more flexible, 7 year adjustable rate mortgage deals are now carrying an interest price of 3.875% and are backed by an annual return of 3.412% today.
However, when it comes to refinancing deals, the customers can find the attractive 30 year fixed rate mortgage home loans trading at an interest rate of 4.625% and carrying an APR yield of 4.679%. On the other hand, the short term, 15 year refinancing fixed rate home loans, are tagged with an interest cost of 3.625% and are accompanied by an APR yield of 3.734% today.
For the seekers of flexible interest rates, the bank offers its best, 5 year refinancing adjustable rate mortgage home loans at an interest cost of 3.375% and an APR yield of 3.118%. However, the more flexible, 7 year refinancing adjustable rate mortgage home loans are carrying a lending charge of 3.625% and come along with an annual return of 3.313%.
The home purchase and refinancing loans published by banks are affected by the price fluctuations experienced by mortgage backed bonds and securities, which generally walk along with the stock market movements. As the Wall Street dipped by the end of the trading day and left the DJIA index sitting at 15337.70, Chase Bank followed the same path blindly for quoting its mortgage rates. However, the share prices of JPM stock increased by +0.37 and reached a new price mark of 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.