Just like any other mortgage provider, Capital One Financial Corp (NYSE: COF), with the aim of maintaining a steady demand of its loan products, made no changes in the benchmark 30 year fixed mortgage interest rate figures on March 13, 2014. Thursday’s, which are usually seen as carriers of bad news for the home loan seekers, surprised the potential home buyers by bringing no change to interest rates at which ideal fixed and flexible home loans are traded today.
In the new mortgage rate charts released by the bank today, the standard, long term, 30 year fixed mortgage home loan plans can be found listed against a lending charge of 4.375% and being accompanied by an annual percentage rate of 4.378% today. However, the mortgage shoppers, who find 30 year deals to be a bit expensive, can shop for the relatively shorter, 15 year fixed rate mortgage home loan plans, which are now published against an interest price of 3.375% and an APR yield of 3.381% today.
The potential home buyers, who are planning on purchasing an expensive home and are looking forward to have it financed through exclusive home loan plans, can opt for the jumbo versions of 30 year fixed rate mortgage home loan deals offered by Capital One Financial at a lending price of 4.375% and an APR yield of 4.376% today. However, the relatively shorter, 15 year jumbo fixed rate mortgage home loans can be acquired at an interest price of 3.750% and an annual return rate of 3.752% today.
When it comes to flexible home lending options, the interested borrowers can spot the best 5 year adjustable rate mortgage home loan packages being published against a lending charge of 2.875% and an annual return rate of 2.796% today.
On the other hand, the more flexible, 7 year adjustable rate mortgage home loan deals can be secured at a starting interest price of 3.250% and an annual percentage yield of 2.983% on the initial amount of home loan sanctioned by the bank.
The mortgage interest rates quoted by banks are generally affected by the changes in prices of mortgage backed bonds and securities, which are traded by banks in the financial markets and are known to follow the stock market movements closely. As the stock market lost its ground towards the end of the trading day, leaving the DJIA index behind at 15337.70, Capital One Financial moved in the same direction and published its mortgage interest rates accordingly. However, irrespective of the lending rates, the stock prices of COF shares spiked by +0.59 and closed at 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.