Capital One has posted new mortgage rates for Wednesday, October 1, 2014. The benchmark 30-year fixed mortgage is now quoted at a lower 4.00% interest rate with an APR of 4.094%. The rate for a 15-year home loan has gone up to 3.375% with an APR of 3.503%.
Buyers looking for greater flexibility can get a 5/1 ARM at Capital One today with a 3.000% interest rate for five years with an APR of 2.987%. The 7/1 adjustable rate mortgage is advertised at 3.125% for the first seven years with an APR of 3.049%.
Borrowers interested in a jumbo loan can lock in today with a 30-year fixed jumbo loan at 4.250% with an APR of 4.272%. A 15-year fixed jumbo mortgage has a published rate of 3.875% with an APR of 3.913%. A jumbo 5/1 adjustable rate mortgage is quoted at 3.875% for the first five years with an APR of 2.895% while a 7/1 jumbo ARM has a higher rate of 3.125% for the first seven years with an APR of 3.030%.
Well-qualified borrowers who want to refinance an existing mortgage can lock into a 30-year refinance loan at 4.125% today with an APR of 4.189%. A 15-year refinance offers a significantly lower rate of 3.500% with an APR of 3.593%. Homeowners can also choose a 5/1 ARM refi with a rate as low as 3.250% and an APR of 3.055%. For a slightly higher rate, homeowners can get a 7/1 ARM refinance with a rate of 3.375% for seven years with an APR of 3.156%.
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.