This Monday, where some major mortgage lenders steered their mortgage rates to new heights and some others managed to publish improved interest rates, JP Morgan Chase Bank (NYSE: JPM) did not bring about any change in its standard 30 year fixed mortgage interest rates. The borrowers visiting the local branches of the US Based lender will find new purchase and refinancing deals listed at the same interest rates as last week.
For those who are seeking out for long term financing options to purchase a new home, the 30 year fixed rate mortgage loans at JP Morgan Chase Bank would prove to be an ideal choice at an interest rate of 4.625% and an annual percentage rate of 4.700%. On the contrary, the 15 year fixed rate mortgage deals can be had at an interest rate of 3.750% and an APR yield of 3.897% by those who are willing to take a shorter route towards new home financing.
In the category of mortgage loans with variable rates of interest, the lender provides 5 year adjustable rate mortgage loans at an interest rate of 3.375% and an APR yield of 3.128%. However, the more flexible, 7 year adjustable rate mortgage loans can be acquired at an interest cost of 3.750% and an APR yield of 3.363%.
When talking about the refinancing loan options, the standard 30 year refinancing loans are up for grabs at a rate of 4.625% and an APR yield of 4.689% on 9 December, 2013. The relatively shorter, 15 year refinancing fixed rate mortgage deals are coming out at an interest rate of 3.625% and an APR yield of 4.689%.
The mortgagors seeking more flexible loan options in terms of interest rates can find 5 year refinancing adjustable rate home loans quoted at a rate of 3.250% and an annual percentage rate of 3.084%. However, the more flexible, 7 year adjustable rate mortgage home loans carry a starting lending charge of 3.625% and come along with an APR yield of 3.293%.
According to a confidential report published in the New York Times, the United States authorities have opened an investigation against JP Morgan Chase Bank. Specifically, the investigation is an anti-bribery one and is about finding more about the hiring of the son of Tang, who is known to be the former elite banking regulator before being appointed as the chairman of China Everbright Group, by the bank. It will also be looking into the hiring of the daughter of the former deputy chief engineer of the Chinese Railway Ministry for the Hong Kong office of JP Morgan Chase Bank.
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.