This Monday did not bring along any pleasant improvement or unpleasant change in the standard and refinancing lending rates at the top US based mortgage provider, JP Morgan Chase Bank (NYSE: JPM). The benchmark 30 year fixed mortgage interest rates are holding steady on February 10, 2014, thereby bringing no change to the overall demand of the bank’s loan products in the market.
As per the new mortgage information released by the bank today, the standard, long term, 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 4.375% today and are carrying an annual percentage rate of 4.449%. On the other hand, the relatively shorter, 15 year fixed rate mortgage packages can be acquired at a lending price of 3.625% and an annual percentage rate of 3.734% today.
When it comes to flexible lending options, the bank offers its best 5 year adjustable rate mortgage home loan plans at an interest rate of 3.250% and an annual return rate of 3.084% to begin with. However, for the seekers of more flexible lending rates, the 7 year adjustable rate mortgage schemes would be ideal options at a starting interest price of 3.500% and an APR yield of 3.234% during the initial years of the home loan.
Shifting sights to the refinancing home loan arena, the interested customers can find the popular 30 year fixed rate mortgage home loans coming out at an interest rate of 4.375% and being accompanied by an APR yield of 4.449% today. Alternatively, in the short term lending section, the bank publishes its 15 year refinancing fixed rate home loans against an interest rate of 3.500% and an annual percentage rate of 3.609%.
As far as the adjustable rate mortgage deals are considered, the bank is now offering its best 5 year refinancing deals at a starting interest rate of 3.125% and an annual return of 3.040% on the initial amount of loan taken from the bank. On the other hand, the relatively more flexible, 7 year refinancing adjustable rate home loan packages are up for grabs at an interest rate of 3.375% today and an APR yield of 3.195% during the initial years of the loan.
The mortgage rates quoted by banks are often affected by the change in price of mortgage backed financial instruments, which are generally dependent on the stock market movements. As the stock market lost its ground towards the end of the trading day and left the DJIA index wandering at 15337.70, the bank moved in the same direction for listing the lending rates of its mortgage offerings. However, the price of JPM shares touched new heights after a hike of +0.37 by the end of the trading day.
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.