After enjoying a steady run for over a week now, Capital One Financial Corp (NYSE: COF) did not attempt to spoil the mood of the prospective home loan borrowers by increasing the new home purchase and refinancing home loan rates on January 17, 2014. Today, the benchmark 30 year fixed mortgage interest rates did not experience any movement and are sitting in the same spot as they were yesterday.
For the mortgage shoppers who are interested in the long term offerings, the bank is now providing its standard 30 year fixed rate mortgage home loan deals at an interest rate of 4.375% and an annual percentage rate of 4.378% today. On the other hand, the shorter, 15 year fixed rate mortgage home loan deals are coming out at a lending rate of 3.500% today and are accompanied by an APR yield of 3.506%.
The borrowers, who are looking forward to have their expensive home investments financed from Capital One Financial, can look out for the jumbo versions of the 30 year fixed rate mortgage home loans, which are now being traded at an interest price of 4.625% and an APR yield of 4.626% However, the shorter, 15 year jumbo fixed rate mortgage deals are now carrying an interest cost of 4.000% and are backed by an APR yield of 4.002% today.
In the adjustable rate mortgage home loan division, the customers can find the best 5 year mortgage home loan deals being traded at an interest cost of 3.125% and are carrying an APR yield of 2.965%. Alternatively, the borrowers who are seeking more flexibility in terms of interest rates, 7 year adjustable rate mortgage deals would be an ideal pick, which can now be locked in at an interest rate of 3.500% and an APR yield of 3.167%.
The mortgage rates published by the banks are normally affected by the changes in the price of mortgage backed securities and bonds traded in the financial markets, which generally track the movement of the stock market. As the stock market plummeted by the end of the trading day and left the DJIA index hanging behind at 15337.70, Capital One followed the footsteps and published its interest rates. Irrespective of the mortgage rates, the stock price of the COF shares moved a bit higher by +0.59 and closed at a new price mark of 67.60 as the markets closed yesterday.
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.