After rowing along a steady stream for the past few days, the benchmark 30 year fixed mortgage interest rates at Capital One Financial Corp (NYSE: COF) registered a minor change on February 20, 2014. The eligible borrowers, who are planning on having their new home purchase financed from Capital One, can find the standard fixed and flexible home loans being advertised at somewhat different interest rates today, in comparison to the yesterday’s interest figures.
Starting off with the standard, long term offerings of Capital One Bank, the eligible borrowers can today find the 30 year fixed rate mortgage home loans coming out at an interest cost of 4.250% and carrying an annual percentage rate of 4.253%. When it comes to the relatively short term home loan offerings, the potential customers can spot the best 15 year fixed rate mortgage home loans being published against a lending charge of 3.375% and being accompanied by an annual return rate of 3.381% today.
For the mortgage shoppers, who intend to make expensive real estate investments and are seeking adequate monetary help from the bank to help them out with their lavish home purchase, Capital One quotes its best 30 year jumbo fixed rate mortgage home loans at an interest rate of 4.000% and an annual percentage yield of 4.001%, which is certainly higher than the APR yield offered by conventional home loans. However, the relatively shorter, 15 year jumbo fixed rate mortgage deals can be locked in at an interest rate of 3.375% and an APR yield of 3.377% today.
In the flexible home financing section, the bank is currently providing its ideal 5 year adjustable rate mortgage loans at a starting interest rate of 2.875% and an APR yield of 2.796% today. On the other hand, the more flexible, 7 year adjustable rate mortgage home loans can be acquired at an interest price of 3.250% and an APR yield of 2.983% to begin with.
The mortgage interest rates quoted by banks are normally affected by the changes in the prices of mortgage backed financial instruments, which generally move along with the stock market movements on a usual trading day. As the market waned by the end of the trading day and left the DJIA index at 15337.70, the bank followed the footsteps of Wall Street and quoted its mortgage interest rates. Regardless of the mortgage rates, the stock price of COF shares gained some ground and closed at a higher mark of 67.60 after a rise of +0.59.
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.