Connect with us

Chase Bank Published its Mortgage Interest Rates Higher on December 16, 2013

Chase Bank Published its Mortgage Interest Rates Higher on December 16, 2013

Business

Chase Bank Published its Mortgage Interest Rates Higher on December 16, 2013

Chase Bank Published its Mortgage Interest Rates Higher on December 16 2013The benchmark 30 year fixed mortgage rates at JP Morgan Chase Bank (NYSE: JPM) climb up further on December 16, 2013, after troubling the borrowers all through the last week. Today, the bank published its new purchase and refinancing loan options at higher interest rates, thereby shocking the borrowers and making its products less attractive in the market.

In the current, long-term financing section, the standard 30 year fixed rate mortgage home loans are coming out at a higher interest cost of 4.625% and carry an impressive annual percentage yield of 4.689%. In regards to the shorter, 15 year fixed rate mortgage options, the borrowers will have to deal with an interest charge of 3.750% and an APR yield of 3.915% today.

For the mortgagors who are looking forward to enjoy the benefits of variable rates of interests, the 5 year adjustable rate mortgage loans can be acquired at a rate of 3.375%, which is backed by an APR yield of 3.138%. If more flexibility is on the cards, the prospective customers can find the best 7 year flexible rate home loans quoted at a higher lending cost of 3.750% and carrying an APR yield of 3.373%.

Going to the refinancing section in the Chase Bank’s loan portfolio, the standard 30 year refinancing loans are listed against a lending charge of 4.625% and come along with an annual percentage return of 4.689% today. On the contrary, the 15 year counterparts of the 30 year refinancing FRM deals can be obtained by bearing an interest burden of 3.625% and an APR yield of 3.771%.

The loaning options available in the flexible lending department also experienced a major increase in the interest rates as compared to the last week. Today, the best 5 year refinancing adjustable rate home loans are up for grabs at a rate of 3.250% and are accompanied by an APR yield of 3.094%. Alternatively, the more flexible, 7 year refinancing ARM deals can be had at a rate of 3.625%, along with an APR yield of 3.304%.

Today, Jamie Dimon, the CEO of JP Morgan Chase Bank presented a surprise to the financial world by clearing out things about its Madoff charges in a recent press conference. On the basis of the speech he gave at the press conference, it is pretty clear that the bank is giving a thought to settling all the criminal charges related to Bernie Madoff by paying fines of about $2 billion.

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.

About Stephany Wilson

Stephany Wilson covers business and finance related news.

More in Business

Good News

To Top