Potential home buyers, who visit the local branch of JP Morgan Chase Bank (NYSE: JPM) on January 27, 2014, will find no immediate change in the benchmark 30 year fixed mortgage interest rates. At the beginning of a new week, the top US mortgage lender decided to not disappoint the prospective mortgage shoppers by keeping its home purchase and refinancing loan rates unchanged this Monday.
According to the most up to date mortgage data available today, the standard, 30 year fixed rate long term mortgage home loans are coming out at an interest rate of 4.500% and are carrying an annual percentage rate of 4.553%. On the other hand, the short term, 15 year fixed rate mortgage home loan packages are being traded at an interest rate of 3.750% and are yielding an annual return of 3.878% today.
In the adjustable rate mortgage lending division, the interest borrowers will find the best 5 year variable home loan packages being published at an interest cost of 3.375% and an APR yield of 3.128% to begin with. Alternatively, the more flexible, 7 year adjustable rate mortgage home loans can be acquired at a starting interest price of 3.625% and an APR yield of 3.304% for the initial years of the loan.
The mortgage rates published in the banks books often go up and down on the basis of price changes experienced by the mortgage backed bonds and securities, which are known to track the movements of the stock market. As the stock market dropped towards 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 for publishing its mortgage rates. Irrespective of the mortgage interest rates quoted by the bank, the stock price of JPM shares increased by +0.69% and touched a new price mark of 53.66 today.
Lately, SkyWalker Property, an Arlington based real estate company, purchased the four story building of the Bowen Road Chase Bank Center in Arlington for including it in the portfolio of the Hangover Opportunity Fund. The building, which covers an overall area of 108170 square feet, has been sold by a Dallas based real estate broking company, Rosemont Realty. The building has been leased over 90% till the date of sale, with the Texas Department of Health and Human Services being the largest tenant.
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.