Capital One Financial Corp (NYSE: COF), following its regular approach, made no change to its benchmark 30 year fixed mortgage interest rates on January 13, 2014. The potential home buyers and the ones looking for refinancing their existing home loan deals will find the ideal home financing options being traded at the same rates today.
Starting with the standard, long term mortgage deals, the customers will have to pay an interest cost of 4.375% and agree to an annual percentage rate of 4.378% today to acquire 30 year fixed rate mortgage home loans. Likewise, the shorter, 15 year fixed rate mortgage home loan schemes can be had by the customers at the same interest rate of 3.500% and an APR yield of 3.506% as last week.
The mortgage shoppers, who are looking for some help from Capital One Financial for financing their expensive home purchase, can find the best 30 year jumbo fixed rate mortgage home loan rates being traded at an interest rate of 4.625% and carrying an APR yield of 4.626% today, which is certainly higher than the normal, non-jumbo loans. Alternatively, the shorter, 15 year jumbo refinancing home loan packages can be had at an interest rate of 4.000% and an APR yield of 4.0025 today.
In the flexible home loan section, the bank offers its best 5 year adjustable rate mortgage home loan deals at a starting interest rate of 3.125%, which are accompanied by an APR yield of 2.965%. The more flexible, 7 year adjustable rate home loan packages are now coming out at an interest rate of 3.500% and carry an APR yield of 3.167% to start with.
All the new home purchase and refinancing mortgage rates published by banks are influenced by the rise and fall in the price of mortgage backed bonds and securities, which change as per the movements experienced by the stock markets. As the Wall Street dropped down and left the DJIA index stranded at 15337.70, bank followed the movement closely for quoting its mortgage rates. However, the stock price of COF shares moved up by +0.59 and closed at a new price mark of 67.60.
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.