This Thursday, at the US based mortgage provider, Capital One Financial Corp (NYSE: COF), the benchmark 30 year fixed mortgage interest rates showed no movement and are sitting in the same spot as yesterday. As per the new mortgage information released by the bank on March 20, 2014, the ideal fixed and flexible home loan deals are being traded at the same interest rates, which will certainly work in the best interest of the bank in terms of steady loan sales.
To start with, the bank is currently charging an interest rate of 4.375% from, and offering an annual percentage yield of 4.378%, to the borrowers, who are interested in acquiring the standard, long term, 30 year fixed rate mortgage home loan deals today. On the other hand, the seekers of relatively shorter, 15 year fixed rate mortgage loan packages, are being charged with an interest rate of 3.500% and offered an annual return rate of 3.506% this Thursday.
The mortgage shoppers, who are looking forward to purchase expensive homes and are hoping to have their pricey home investments financed from Capital One Financial, can reap the benefits of the jumbo versions of 30 year fixed rate mortgage home loan plans, which are now published against a lending charge of 4.375% and are backed by an APR yield of 4.376%. However, the short term, 15 year jumbo fixed rate mortgage loan options are now being traded at an interest rate of 3.750% and an APR yield of 3.752% today.
In the flexible home loan arena, the interested borrowers can spot the best 5 year adjustable rate mortgage deals coming out at a starting interest rate of 2.875% and accompanied by an annual return rate of 2.796% today. Alternatively, the more flexible, 7 year variable rate home loan deals can be locked in at an interest price of 3.250% and an APR yield of 2.983% on the basic amount of home loan acquired from the bank.
The mortgage rates published by banks move up and down depending upon the changes in the prices of mortgage backed bonds and securities, which move along the stock markets on a normal trading day. As the stock market plummeted towards the end of the trading day, leaving the DJIA index behind at 15337.70, the bank moved in the same direction for quoting its interest rates. However, the stock price of COF shares increased by +0.88% and closed at a new price point of 67.60 today.
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.