The home purchase and refinancing loan rates didn’t experience any change at Toronto Dominion Bank (NYSE: TD) on December 19, 2013. TD Bank, following the trail of several other mortgage lenders chose to keep its benchmark 30 year fixed mortgage interest rates steady this Thursday.
As of now, the standard, 30 year fixed rate mortgage loans are being advertised by TD Bank at an interest rate of 4.562% and carrying an annual return of 4.676% on the initial amount of loan. The potential home buyers who are looking for short term loaning options to finance their home investment will find the 15 year fixed rate mortgage deals published against a lending charge of 3.562% and coming along with an APR yield of 3.756% today.
In the adjustable rate mortgage department, the borrowers interested in having more flexible interest rates, can spot the 3 year deals sitting next to an interest cost of 2.562% and an APR yield of 3ARMPA@. On the other hand, the 5 year adjustable rate mortgage home loans can be procured by paying a lending cost equivalent to 3.062% and an APR yield of 5ARMPA@.
For the borrowers seeking more flexibility, the lender offers 7 year adjustable rate mortgage home loans at an interest price of 3.312% and an APR yield of 7ARPA@. Alternatively, the customers can also go for the 10 year adjustable rate home loan packages that are currently rated at 3.688% and are accompanied by an APR yield of 10ARMPA@ to start with.
Turning heads towards the refinancing arena will reveals that the popular, 30 year fixed rate mortgage loans are traded at an interest rate of 4.812% today and carry an APR yield of 4.928%. The short term, 15 year refinancing, fixed rate mortgage deals follow the same path and continue being traded at a rate of 3.812% and an APR income of 4.008% today.
Heading towards the variable rate mortgage packages, the borrowers can find the 5 year refinancing deals coming out at the same interest rate of 3.312% and carrying an APR yield of 5ARMRA@. However, the more flexible, 7 year refinancing ARM schemes are up for grabs at an interest cost of 3.562% and an APR yield of 7ARMRA@ to start with.
As the stock markets dropped by the end of the trading day and the DJIA index was left behind at 15337.70, TD Bank followed the trail and published its interest rates accordingly, which are, in any case, affected by the fluctuations in the price of mortgage backed securities that trail the stock markets as well. However, the TD stock prices performed well and closed at a higher mark 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.