The mortgage shoppers visiting the local branches of Capital One Financial Corp (NYSE: COF) this Wednesday will find no change in the lending rates at which new home purchase and refinancing loan options are advertised in the loan books. While the benchmark 30 year fixed mortgage interest rates remained steady on January 15, 2014, the jumbo loan deals tasted a little adjustment at the US based lender today.
The potential home owners will have to pay an interest cost equivalent to 4.375% and agree to an annual percentage rate of 4.378% today for acquiring the standard, long term, 30 year fixed rate mortgage home loan deals. However, the relatively shorter, 15 year counterpart of the 30 year fixed rate mortgage loan packages are up for grab at an interest price of 3.500% and an APR yield equivalent to 3.506%.
The mortgagors, who are looking forward to have their expensive new home purchase financed by the Capital One Financial, can go for the 30 year jumbo fixed rate mortgage plans, which are now available at a lending rate of 4.625% and carry an APR yield of 4.626% today. Alternatively, short term, 15 year counterpart of the 30 year jumbo fixed rate home loan schemes, can be had at an interest price of 3.875% and an annual return of 3.877% today.
When talking about the adjustable rate mortgage home loans, the prospective customers can find the best 5 year deals coming out at a flexible interest rate of 3.125% and an APR yield of 2.965% on the initial amount of loan taken from the bank. However, the more flexible, 7 year adjustable rate mortgage deals can be locked in by the borrowers at an interest cost of 3.500% and an annual return of 3.167% during the initial years of the loan.
The mortgage home loan rates quoted by the bank are changed according rise and fall in the prices of mortgage financial securities, which move according to the movement in the stock markets on any normal trading day. As the stock market plummeted by -113.35 and left the DJIA index stranded at 15337.70, Capital One rode along the same path for publishing its mortgage interest rates. However, the stock price of COF shares increased by +0.88% and touched a new mark of 67.60 by the end of the trading day.
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.