With most of the US based mortgage lenders edging up their benchmark 30 year fixed mortgage interest rates this week, TD Bank (NYSE: TD) chose to bring its mortgage rates at the lower level on December 5, 2013. For the new home purchase as well as refinancing loan options, TD Bank quoted reduced interest rates on Thursday, thereby making its products more attractive in the realty market.
Under the new home purchase program, the lender provides its best 30 year fixed rate mortgage loans at an interest charge of 4.220% and carry an APR yield of 4.317%. However, the relatively short term, 15 year fixed rate mortgage loans come listed at an interest cost of 3.854% and an APR yield of 4.024%.
In the variable interest loan division, the 3 year adjustable rate mortgage loans can now be had at an interest cost of 2.662% and an APR yield of 3ARMPA@. However, the 5 year adjustable rate home loans are up for grabs at 3.152% and carry an APR yield of 5ARMPA@.
When it comes to more flexible loan options, the bank provides 7 year adjustable rate mortgage loans at an interest charge of 3.516% today, which are known to yield an APR of 7ARMPA@. On the other hand, the most flexible, 10 year ARM loans can be acquired by bearing an interest cost of 3.876% and an APR yield of 10ARMPA@ to start with.
In the refinancing department, TD Bank provides 30 year refinancing fixed rate mortgage options against an interest rate of 4.470% and are accompanied by an APR yield of 4.568%. For the admirers of short term financing options, the bank also offers 15 year refinancing FRM deals at a lending cost of 4.104% and an APR yield of 4.275%.
For the borrowers who are looking for more flexible refinancing options, TD Bank publishes the 5 year adjustable rate mortgage loans at an interest rate of 3.402% and come along with an APR yield of 5ARMPA@. On the other hand, the most flexible, 7 year refinancing adjustable rate mortgage deals can be acquired at an interest rate of 3.766% and an APR yield of 7ARMPA@.
The refinancing and new home purchase loan rates are generally affected by the prices of mortgage backed financial securities, which follow the movement of the stock market. By the end of the trading day, the stock market weakened and reduced the DJIA index by -0.73%. At least today, the bank followed the trail of the market and published its mortgage rates accordingly. The stock prices of TD Bank rose up by +0.54 and closed at a higher price point of 84.74.
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.