On Wednesday, September 24, 2014, JP Morgan Chase Bank (NYSE:JPM) chose to make little or no changes to its standard 30 year and 15 year fixed rate home mortgage schemes. The bank has been offering FRMs and ARMs to the individuals at discounted rates but today’s decision to make no favorable changes to the interest rates didn’t really please the potential home buyers which is why they got a little disappointed as they were willing to take up one of the mortgage plans at reduced interest rates.
To start with, JP Morgan Chase bank offered its benchmark 30 year fixed rate schemes at an interest rate of 4.375% in addition to an annual percentage rate of 4.471%. The shorter variants of these loans the 15 year FRMs were on the books at 3.625% and an annual percentage rate of 3.753%. The APR and interest rates on these schemes too remained more or less similar as on Wednesday, September 24, 2014.
The bank even offers flexible adjustable rate mortgage schemes for the prospective mortgage buyers who are in search of flexible interest rate schemes. The 5 year ARMs at Chase Bank were listed at 4.000% rate of interest and an APR of 3.352% to begin with. The 7 year ARMs have been published at 3.750% interest rate presently yielding an annual percentage rate of 3.363%.
The 30 year refinance home mortgage schemes at JP Morgan Chase Bank were listed at 4.250% interest rate and an APR of 4.345%. The short term famous 15 year refinance schemes were quoted at 3.500% interest rates and an APR of 3.627% to start with. The 5 year ARMs refinance schemes at Chase Bank are available at 3.375% interest rate and an annual percentage rate of 3.118%. The 7 year ARM refinance schemes on the other hand were listed at 3.500% interest rate carrying an APR of 3.234%.
The JP Morgan Chase Group Foundation has now reaffirmed its dedication towards supporting one of the African Campaign for midwives. This program has been aimed to train more than 15, 000 midwives in the continent of Africa by the year 2015. A check worth Kes30million was offered to the Amref Health Africa by the bank which is certainly a great decision and contribution towards a good cause. The bank has definitely gained a lot through this cause and it remains to be seen how good the future of these midwives pans out to be.
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.