Following the lead of several other mortgage lenders operating in the US mortgage sector, Capital One Financial Corp (NYSE: COF) published its home purchase and refinancing home loan deals against the same lending rates on January 21, 2014. This Tuesday, the interested borrowers will find the ideal home loan packages carrying the same lending rates as yesterday.
A closer look at the new home loan information released by the US based mortgage lender will reveal that the standard, long term, 30 year fixed rate mortgage home loans are now quoted at an interest cost of 4.375% and are carrying an annual percentage rate of 4.378% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage deals are coming out at a lending rate of 3.500% and are backed by an annual return rate of 3.5065 today.
The borrowers, who are planning on visiting the local branch of Capital One Financial for finding ideal solutions for financing their expensive home purchase, can go for the best 30 year jumbo fixed rate mortgage loan plans, which are now advertised at an interest rate of 4.625% and come along with an APR yield of 4.626%, which is definitely higher than the conventional, non-jumbo home loans. Alternatively, the short term, 15 year jumbo fixed rate home loan schemes are up for grabs at an interest cost of 4.000% and an APR yield of 4.002% today.
For the borrowers seeking flexible lending rates, the bank offers its best 5 year adjustable rate mortgage home loan deals at an interest rate of 3.125% and an APR yield of 2.965% to start with. However, the more flexible, 7 year adjustable rate mortgage loans can be had at a starting rate of 3.500% and an APR yield of 3.167%.
Generally, the mortgage home loan rates are affected by the upward and downward movement in the prices of mortgage backed financial securities, which are known to trail the stock market movements. As the financial markets plummeted by the end of the trading day and left the DJIA index hanging around 15337.70, after a fall of -113.35, the bank moved along the same path and quoted its interest rates. However, regardless of the mortgage rates, the stock price of COF shares improved by +0.88% and crossed the 67 price mark as the market closed yesterday.
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.