Maintaining its pace and the current market standing, the largest, New York based bank, JP Morgan Bank (NYSE: JPM), kept its standard home purchase and refinancing home loan rates steady on February 12, 2014. This week, for the third day in a row, the interested customers will find no absolute change in the benchmark 30 year fixed mortgage interest rates today.
As of now, according to the new home loan data made available to the public, the standard, 30 year fixed rate long term mortgage loans are being advertised at an interest rate of 4.375% and are carrying an annual percentage rate of 4.471% today. Alternatively, in the short term home financing section, the interested customers can spot the 15 year fixed rate mortgage deals being traded at an interest rate of 3.625% and backed by an APR yield of 3.753% today.
For the seekers of flexible home loan rates, the bank is now offering its best 5 year adjustable rate mortgage home loans at a starting interest rate of 3.375% and an annual return rate of 3.036% to start with. However, the more flexible, 7 year adjustable rate mortgage deals can be locked in at an interest rate of 3.500% and an APR yield of 3.187% for the initial years of the loan.
When it comes to refinancing home loan deals, the prospective customers can find the popular 30 year fixed rate mortgage options being published next to a lending charge of 4.375% and an annual percentage rate of 4.471% today. On the other hand, the relatively shorter, 15 year refinancing fixed rate mortgage deals can be acquired at an interest rate of 3.500% and an APR yield of 3.609% today.
As far as the adjustable rate mortgage home loan options are considered, the bank publishes its ideal 5 year refinancing deals at an interest rate of 3.250% and an annual percentage rate of 2.922% to begin with. Alternatively, for the seekers of more flexibility, the 7 year refinancing adjustable rate mortgage loans would be an ideal pick at a starting interest rate of 3.500% and an annual percentage rate of 3.166% today.
The mortgage interest rates published by banks go up and down depending upon the changes experienced by the prices of mortgage backed bonds and securities, which normally tail the stock market movements. As the Wall Street lost its ground by the end of the trading day and left the DJIA index wandering at 15337.70, Chase bank tracked its movement and took the same direction for quoting its mortgage rates. However, the stock price of JPM shares showed an improvement of +0.69% and closed at a new price mark of 53.66 towards 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.