In today’s volatile realty market, where the mortgage interest rates are as unstable as certain chemical when exposed to external factors, the Canadian lender, Toronto Dominion Bank (NYSE: TD) managed to publish lower rates for its fixed and flexible home loan options on February 5, 2014. The interested customers, who are visiting the local branches of the mortgage lender in search of ideal options, will find a pleasant improvement in the benchmark 30 year fixed mortgage interest rates today.
This Wednesday, the standard, 30 year fixed rate mortgage home loan packages are being advertised by TD Bank at an interest rate of 4.312% and an annual percentage rate of 4.424%. However, the seekers of short term home loan options can spot the 15 year fixed rate mortgage deals coming out at an interest rate of 3.4385 today and being accompanied by an annual return of 3.632% today.
The bank also offers FHA backed 30 year fixed rate mortgage home loans to the customers troubled by their poor credit score of the past or for those who cannot deal with the heavy down payment requirements of the conventional home loan deals. As of now, the FHA deals can be acquired by bearing an interest cost of 4.125% and an APR yield of 5.285%.
When it comes to the flexible home financing deals, the potential borrowers can find the ideal 3 year adjustable rate mortgage home loans coming out at an interest rate of 2.562% and carrying an APR yield of 2.910% to begin with. On the other hand, the 5 year adjustable rate mortgage home loans are also up for grabs at a starting interest rate of 3.062% and an APR yield of 3.043% during the initial years of home loans.
The seekers of more flexible home loans can spot the 7 year adjustable rate mortgage deals coming out at an interest rate of 3.312% today and being backed by an APR yield of 3.181% on the initial amount of the loan taken from the bank. The most flexible, 10 year variable rate home loan plans can be locked in at an interest cost of 3.562% and an annual return equivalent to 3.401% to begin with.
The mortgage rates published by the banks often fluctuate on the basis of price changes experienced by the mortgage backed bonds and securities, which are known to follow the direction of the stock market movements. As the stock market waned by the end of the trading day and left the DJIA index at 15337.70, TD bank blindly moved along the same path and published its interest rates. However, the stock price of TD shares touched new levels after a hike of +0.64%.
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.