After experiencing an unstable, upward and downward movement for the past few days, the benchmark 30 year fixed mortgage interest rates at JP Morgan Chase Bank (NYSE: JPM) headed towards south on January 7, 2014. The US based mortgage lender published its standard new home purchase and refinancing mortgage loans at reduced interest rates today, thereby increasing their demand among the potential borrowers.
As per the latest home loan charts issued by Chase Bank, the standard 30 year fixed rate home loans are being traded at a lending rate of 4.625% today and are backed by an annual percentage rate of 4.744%. For those who find the 30 year options a bit expensive, the bank offers short term, 15 year fixed rate mortgage home loan packages at an interest rate of 3.875% and an annual return of 4.022% today.
In the flexible loaning division, the customers can spot the best 5 year adjustable rate mortgage home loans being traded at an interest rate of 3.500% and carrying an annual return rate of 3.182% to start with. As far as the more flexible, 7 year adjustable rate mortgage deals go, the interested borrowers can lock in an ideal deal by paying an interest cost of 4.000% and agreeing to an APR yield of 3.483%.
When it comes to the refinancing home loan options, the Chase Bank publishes the popular 30 year fixed rate mortgage plans at a rate of 4.625% in its loan books, along with an annual percentage yield of 4.744% today. The short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage home loans, are coming out at an interest rate of 3.625% and carrying an APR yield of 3.808% this Tuesday.
As far as the adjustable rate mortgage deals are concerned, the potential mortgagors can find the best 5 year refinancing packages being advertised at an interest rate of 3.375% and yielding an APR of 3.138% today. However, the more flexible, 7 year refinancing adjustable rate home loan schemes are being offered at a lending rate of 3.750% today and are backed by an APR yield of 3.363% to start with.
According to a latest order from the federal authorities, JP Morgan Chase Bank has been ordered to pay a penalty of $1.7 billion for settling its criminal charges for ignoring the signs that the Bernard Madoff’s Ponzi scheme is a fraud and playing an active role in its trading as Madoff’s primary banker.
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.