Though the benchmark 30 year fixed mortgage interest rates at Capital One Financial Corp (NYSE: COF) remained steady on January 9, 2014, the short term and the jumbo home loans experienced a minor rise in terms of the standard lending rates. This might not affect the long term demand of Capital One’s loan products in the market, but will certainly make them less popular in the eyes of the potential borrowers today.
Starting with the long term financing options, the customers can find the standard, 30 year fixed rate mortgage loans being advertised at an unchanged lending rate of 4.625% and carrying an annual percentage rate of 4.628% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage deals are now coming out at an increased interest cost of 3.750%, which is backed by an APR yield of 3.756%.
The borrowers, who are looking forward to obtain financial help from Capital One Financial to deal with their expensive home investment, can find ideal loan packages in the jumbo lending section of the bank’s portfolio. As of now, the long term, 30 year jumbo fixed rate mortgage deals are coming out at an interest rate of 4.750% and carry an APR yield of 4.751%. However, the shorter, 15 year jumbo fixed rate mortgage home loans are carrying an interest price of 4.000% and yielding an APR of 4.002%.
For the mortgage shoppers who are in search of flexible interest rates, the adjustable rate mortgages seem to be a perfect choice. Today, the best 5 year adjustable rate mortgage home loans are published in the bank’s books against a lending charge of 3.250% and come along with an APR yield of 3.008%. On the other hand, the more flexible, 7 year adjustable rate home loans can be had at a starting interest rate of 3.625% and an APR yield of 3.226% today.
The mortgage interest rates published by banks are often affected by the upward or downward movement in the price of mortgage backed financial securities, which are known to follow the stock market movements quite closely. As the financial markets plummeted by -0.73% and left the DJIA index at 15337.70 by the end of the trading day, Capital One Financial chose to walk along the same path for quoting its lending rates. However, irrespective of the interest rates, the stock price of BBT shares improved by +0.88% and closed at a new price point 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.